NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is notifying investors that a class action lawsuit has been filed against Rite Aid Corporation (“Rite Aid” or the “Company”) (NYSE : RAD) and certain of its officers on behalf of all persons and entities that purchased or otherwise acquired Rite Aid securities between April 14, 2022 and September 28, 2022, both dates inclusive (the “Collection Period”). Such investors are encouraged to join this case by visiting the company’s website: www.bgandg.com/rad.

This class action seeks damages against the defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).

The lawsuit alleges that the defendants made materially false and misleading statements about the Company’s business, operations and prospects throughout the class period. Specifically, the Defendants provided false and/or misleading information and/or failed to disclose: (1) despite claims to the contrary, the number of new members (i.e., “lives”) that the Elixir PBM service business added during the Sales Season, which ended January 1, 2023 was essentially in decline; (2) Rite Aid would likely recognize a significant goodwill impairment charge related to Elixir due to a decrease in the “lives” covered by Elixir’s PBM services business; and (3) as a result, the Company’s public statements were, at all relevant times, materially false and misleading.

A class action lawsuit has already been filed. If you would like to see a copy of the complaint, you can visit the firm’s website: www.bgandg.com/rad or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss at Rite Aid, you have until December 19, 2022 to request that the court appoint you lead plaintiff. Your ability to participate in a recovery doesn’t require you to serve as a lead…