San Diego, CA -- (SBWIRE) -- 12/16/2014 -- An investor, who currently holds shares of Walgreen Company (NYSE:WAG), filed a lawsuit over alleged breaches of fiduciary duties by certain directors of Walgreen in connection with the acquisition of Alliance Boots.

Investors who are current long-term stockholders of Walgreen Company (NYSE:WAG) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that the defendants withheld from NYSE:WAG shareholders information related to Walgreen Company's acquisition of Alliance Boots and related reorganization in recent regulatory filings.

The plaintiff claims that Walgreen Company provided materially incomplete proxy statement and other filings intended to get support from NYSE:WAG stockholders for the completion of the Alliance Boots acquisition.

In addition the plaintiff seeks to force Walgreen Company into disclosing to NYSE:WAG stockholders that it is facing a defamation lawsuit from former Walgreen CFO Wade Miquelon.

Walgreen Company reported that its Total Revenue declined from over $72.18 billion for the 12 months period that ended on August 31, 2011 to over $71.63 billion for the 12 months period that ended on August 31, 2012 and that its Net Income for those time periods declined from over $2.71 billion to over $2.12 billion.

Shares of Walgreen Company (NYSE:WAG) grew from under $30 per share in June 2012 to as high as over $75 per share in June 2014.

On August 4, 2014, Walgreen Company announced the appointment of Timothy McLevish as Walgreens executive vice president and chief financial officer. Walgreen company said that McLevish succeeds Wade D. Miquelon, executive vice president, chief financial officer and president of international for Walgreens, who will continue as an advisor to assist the company with the transition as it considers the exercise of Step 2 of its strategic partnership with Alliance Boots.

On August 5, 2014, Walgreen Company said that it will announce several updates related to its strategic transaction with Alliance Boots GmbH on Wednesday, Aug. 6, followed by a conference call with Walgreens management.

On August 6, 2014, Walgreen Company announced it has exercised its option to complete the second step of its strategic transaction with Alliance Boots GmbH ahead of the original option period, which was between February and August 2015. Walgreen Company said that it seeks shareholder approval in connection with acquisition of remaining 55 percent of Alliance Boots after initial 45 percent investment completed in 2012.

Shares of Walgreen Company declined from $76.08 per share in June 2014 to as low as $59.21 per share on August 6, 2014.

On September 30, 2014, Walgreen Company reported its fiscal 2014 fourth quarter and full-year results. Walgreen Company reported that its Total Revenue rose from over $72.21 billion for the 12 months period that ended on August 31, 2013 to over $76.39 billion for the 12 months period that ended on August 31, 2014 while its Net Income for those respective time periods declined from $2.45 billion to over $1.93 billion.

On December 10, 2014, Walgreen Company announced that Greg Wasson, president and chief executive officer, has informed Walgreen Company's board of directors that he will retire shortly after the close of the second step of the Alliance Boots transaction

Shares of Walgreen Company (NYSE:WAG) shares closed on December 12, 2014 ar $74.50 per share.

Those who are current long-term stockholders of Walgreen Company (NYSE:WAG) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com