August 27, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Walgreen Company (NYSE:WAG) shares over potential securities laws violations by Walgreen Company and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Walgreen Company (NYSE:WAG) concerning whether a series of statements Walgreen Company (NYSE:WAG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

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) declined from $44.97 per share in May 2011 to $29.57 per share in June 2012.

In the first half of 2013 NYSE:WAG shares rose from $32.16 per share to over $50 per share.

On June 11, 2013, Walgreen Company (NYSE:WAG announced that it reached an agreement with the DEA and the Department of Justice that settles and resolves all administrative and civil matters arising out of DEAs concerns relating to the distribution and dispensing of controlled substances. Walgreen Company said that under the terms of the agreement, Walgreens will pay $80 million, which the company reserved in previous quarters, including $25 million in its most recent quarter ended May 31, 2013. According to the investigation Mark R. Trouville, Special Agent of the DEAs Miami field office, called Walgreens actions a clear example of inexcusable corporate conduct that existed only for greed and profit.

On August 15, 2013, Walgreen Company (NYSE:WAG) closed at $49.36 per share.