**Walgreens Boots Alliance Files 8-K Form with the SEC Disclosing Settlement Approval in Shareholder Derivative Litigation**

Walgreens Boots Alliance, Inc. recently filed an 8-K form with the Securities and Exchange Commission (SEC) on November 25, 2024, reporting significant updates on a shareholder derivative litigation settlement. The putative shareholder derivative plaintiff filed a motion for preliminary approval of a settlement in the case of Clem v. Skinner et al., which was entered into the court and preliminarily approved on the same date.

The key components of this settlement include the attachment of the Stipulation and Agreement of Settlement dated July 9, 2024, as well as the Notice of Pendency and Proposed Settlement of Shareholder Derivative Action on November 25, 2024. These documents have been incorporated by reference in the filing.

The settlement outlines corporate governance reforms that Walgreens has agreed to implement and maintain for a period of at least five years. The reforms cover various aspects such as mandatory attendance of directors at annual stockholder meetings, director training, audit committee composition and duties, disclosure committee responsibilities, and whistleblower controls.

Additionally, the 8-K form details the terms under which the settlement will be finalized upon certain conditions, including final court approval and entry of a judgment approving the settlement and dismissing the derivative action with prejudice.

Moreover, the settlement involves agreements on attorneys’ fees, expenses, and service awards. Plaintiff’s Counsel will apply for an amount of $750,000 as fees and expenses with a provision for a service award of up to $2,500 for Plaintiff, subject to court approval.

Further, the document provides information on a forthcoming Settlement Hearing scheduled for January 23, 2025, where the court will assess the fairness, reasonableness, and adequacy of the settlement terms and related matters.

Any shareholders wishing to object to the settlement terms and be heard at the hearing must adhere to specific guidelines indicated in the filing.

For additional information or inquiries regarding the settlement, interested parties are advised to refer to the official Stipulation available on Walgreens’ website or contact Robbins LLP. It was emphasized in the 8-K filing not to reach out to the court or Walgreens directly concerning this matter.

The finalization of this settlement brings closure to a chapter in Walgreens Boots Alliance, Inc.’s legal landscape, demonstrating the company’s commitment to resolving shareholder claims and enhancing corporate governance practices.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Walgreens Boots Alliance’s 8K filing here.

Walgreens Boots Alliance Company Profile

Walgreens Boots Alliance, Inc operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S. Retail Pharmacy, International, and U.S. Healthcare. The U.S. Retail Pharmacy segment engages in operation of the retail drugstores, health and wellness services, specialty, and home delivery pharmacy services, which offers health and wellness, beauty, personal care and consumables, and general merchandise.