September 29, 2010 - The court granted the defendants’ motion to dismiss with prejudice.
February 1, 2010 - The defendants filed a motion to dismiss.

November 25, 2009 - The lead plaintiffs filed a second amended complaint on behalf of investors who purchased Walgreen Company (NYSE: WAG) common shares between June 25, 2007 and October 1, 2007. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between June 25, 2007 and October 1, 2007.

October 28, 2009 - The court granted the lead plaintiffs' motion for reconsideration.

October 13, 2009 - The lead plaintiffs filed a motion for reconsideration.

September 24, 2009 - The court granted the defendants' motion to dismiss.

December 15, 2008 - The defendants filed a motion to dismiss.

November 10, 2008 - The lead plaintiffs filed a corrected amended complaint.

October 16, 2008 - The lead plaintiffs filed an amended complaint.

August 19, 2008 - The lead plaintiffs and lead counsel were appointed.

June 16, 2008 - A lead plaintiff motion was filed.

April 16, 2008 - An investor in shares of Walgreen Company (NYSE: WAG) filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Walgreen Company over alleged violations of Federal Securities Laws.

Specifically, the complaint alleges that between June 25, 2007 and November 29, 2007, Walgreen Company was experiencing a steady decline in the growth of its core business -- filling retail drug prescriptions. The complaint further alleges the defendants failed to disclose declining growth rates for the Walgreen Company’s generic prescription business and misled investors concerning the sustainability of Walgreen Company's profits and sales. According to the complaint, unbeknownst to Walgreen Company's public shareholders, underlying the erosion of Walgreen Company's earnings was a material contract dispute with one of the nation’s largest third-party providers of prescription drug benefits – CVS Caremark (“Caremark”). During 2007, Walgreen Company disputed Caremark’s reimbursement rates for a number of prescription drug plans located primarily in the upper Midwestern U.S., which were negatively impacting Walgreen Company’s earnings.

Prior to the market opening on October 1, 2007, Walgreen Company issued a press release announcing its financial results for its fourth fiscal quarter and fiscal year 2006. For the fourth quarter, Walgreen Company reported net income of $0.40 per share – far below analysts’ earnings expectations of $0.47 per share. In response to the announcement, the price of Walgreen Company stock (NYSE: WAG) declined from $47.00 per share to $39.96 per share, on extremely heavy trading volume.

On November 29, 2007 Walgreen Company announced that “[a]fter many months” of dispute with Caremark over the reimbursement rates for four prescription plans, Walgreen Company withdrew as a pharmacy provider from the plans. Following this announcement, shares of Walgreen Company common stock declined to a new three-year low of $36.59 per share at the close of trading on November 30, 2007.

Walgreen Company operates a chain of drugstores in the United States.