Walgreens sues to block ‘egregious' $987 mln arbitration award [Reuters]
Walgreens Boots Alliance, Inc. (WBA)
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Source: Reuters
an “egregious and improper” arbitration award of nearly $1 billion for telemedicine provider PWNHealth in a contract dispute between the companies. PWNHealth, which does business as Everly Health Solutions, separately asked , opens new tab the judge to affirm the arbitration award, according to court filings unsealed on Tuesday. Walgreens argued , opens new tab that the $987 million award was 12 times above the maximum of $79 million in damages allowed under the contract between the two companies. It would be the largest-ever under the federal Lanham Act, a false advertising law that protects trademarks, the company said. Everly initiated the arbitration in 2022, claiming that Deerfield, Illinois-based Walgreens broke the terms of a 2020 COVID-era business contract. Walgreens was using Everly's physician network to order COVID-19 tests that customers asked for on Walgreens' website, according to its court filings. It said the relationship deteriorated after it started using it
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WBA
News
- Walgreens Boots Alliance Declares Quarterly DividendBusiness Wire
- Walgreens Is Opening a New Pharmacy For Cell and Gene Therapies [BNN Bloomberg (Canada)]BNN Bloomberg
- Walgreens To Launch $24 Billion Business Dedicated To Specialty Pharmacy [Forbes]Forbes
- Walgreens Launches Gene and Cell Services as Part of Newly Integrated Walgreens Specialty Pharmacy Business [Yahoo! Finance]Yahoo! Finance
- Walgreens Launches Gene and Cell Services as Part of Newly Integrated Walgreens Specialty Pharmacy BusinessBusiness Wire
WBA
Earnings
- 3/28/24 - Beat
WBA
Sec Filings
- 4/25/24 - Form 4
- 4/22/24 - Form 3
- 4/15/24 - Form 4
- WBA's page on the SEC website