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October 1, 2018

Walgreens to pay $34.5m fine for misleading investors

US-based retail holdings company Walgreens Boots Alliance has signed an agreement with the Securities and Exchange Commission (SEC) to pay a $34.5m fine for misleading investors.

US-based retail holdings company Walgreens Boots Alliance has signed an agreement with the Securities and Exchange Commission (SEC) to pay a $34.5m fine for misleading investors.

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The settlement followed an investigation by the SEC that compared Walgreen’s forward-looking financial goals with related disclosures made prior to its merger with Alliance Boots on 31 December 2014.

The allegations noted that Walgreens’ CEO and chief financial officer at the time acted negligently in connection with statements in the earnings calls made during June, October and December 2013, as well as March 2014.

“The settlement does not involve any of Walgreens Boots Alliance’s current officers or executives.”

It is also claimed that the company failed to disclose risks of not meeting certain financial goals for the fiscal year ending 2016. Walgreens withdrew those goals in June 2014 after receiving warnings in December 2013 and March 2014.

The settlement does not involve any of Walgreens Boots Alliance’s current officers or executives, and it does not allege that anyone acted intentionally or recklessly at any time.

Walgreens Boots Alliance operates retail pharmacy chains across the US and Europe. It currently employs more than 385,000 people as of 31 August 2017 across 14,500 stores in 11 countries along with one global pharmaceutical wholesale and distribution networks.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.