Join Class Action »
Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Fred’s Inc. (NASDAQ: FRED) between December 20, 2016 and June 28, 2017 (the “Class Period”). The lawsuit seeks to recover damages for Fred’s investors under the federal securities laws.
If you bought Fred’s securities between December 20, 2016 and June 28, 2017, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces the Filing of a Securities Class Action Lawsuit Against Fred’s Inc. – FRED
New York, N.Y., July 29, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Fred’s Inc. (NASDAQ: FRED) between December 20, 2016 and June 28, 2017 (the “Class Period”). The lawsuit seeks to recover damages for Fred’s investors under the federal securities laws.
To join the Fred’s class action, go to http://zhanginvestorlaw.com/cases/freds-inc/ or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the FTC had informed Defendants that the merger between Rite Aid Corp. and Walgreens was unlikely to garner regulatory approval as then constituted because of the significant market overlap between Rite Aid and Walgreens stores; (2) Defendants did not possess “clarity” from their non-public discussions with FTC regulators that the deal would be approved, but, rather, FTC officials had expressed concern that the planned divestitures did not go far enough to preserve competition in the pharmaceutical marketplace; (3) delay in the regulatory review process and FTC requests for additional information were not simply routine and inconsequential as Defendants had represented; (4) FTC Staff indicated to Defendants that Fred’s did not have the financial capability and incentives to acquire and operate the assets, nor the competitive ability to maintain or restore competition in the market; (5) Fred’s wouldn’t purchase the Rite Aid stores and certain assets related to store operations located across the eastern and western United States pursuant to the Asset Purchase Agreement; and (6) as a result of the foregoing, defendants’ positive statements about Fred’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 27, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/freds-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.