The former CFO of Walgreens has filed a lawsuit that threatens to details the retail giant’s plans to acquire EU pharmacy Alliance Boots, say reports.
Former Walgreens CFO Wade Miquelon has filed a lawsuit against the company for defamation following statements made about Miquelon, allegedly false, including claims that he was responsible for a $1.1 billion forecasting error, according to reports. Miquelon has filed the lawsuit accusing Walgreens CEO Gregory Wasson and Alliance Boots chairman Stefano Pessina of making the statements during investor meetings last August, including at one meeting just one day after Miquelon resigned.
The lawsuit, filed earlier this month, is now threatening to postpone or even derail the Walgreens/Alliance Boots tie-up, say reports.
A unit of the Change to Win Federation of labor unions has sent a letter to Walgreens chairman James Skinner advising him to delay the merger with Alliance Boots until Miquelon’s claims have been thoroughly examined.
Reports say many internal conflicts noted in the lawsuit were in relation to the Alliance Boots merger, reached for $6.7 billion in June of 2012.
Walgreens reportedly filed a motion Monday stating that Miquelon was, in fact, responsible for the forecasting error.
Full content: CFO
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI