SHAREHOLDER ALERT: RAD UNFI STEM: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

NEW YORK, NY / ACCESSWIRE / May 19, 2023 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Rite Aid Corporation (NYSE:RAD)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/rite-aid-class-action-submission-form?prid=39699&wire=1
Lead Plaintiff Deadline: May 19, 2023
Class Period: April 26, 2018 - March 13, 2023

Allegations against RAD include that: (1) until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl; (2) Rite Aid pharmacists filled these prescriptions despite clear "red flags" that indicated that the prescriptions were unlawful; (3) Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists; (4) by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act; (5) as a result, it was at risk of prosecution by federal authorities such as the United States Department of Justice; and (6) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

United Natural Foods, Inc. (NYSE:UNFI)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/united-natural-foods-inc-lawsuit-submission-form?prid=39699&wire=1
Lead Plaintiff Deadline: May 19, 2023
Class Period: March 10, 2021 - March 7, 2023

Allegations against UNFI include that: (1) despite its cost-saving Value Path initiative, United Natural Foods had not invested in improving its data management and related infrastructure; (2) as a result, the Company could not respond adequately to cost changes, such as inflationary pressure; (3) as a result, the Company could not appreciate the benefits of procurement gains and inventory gains achieved during fiscal 2022; (4) as a result of the foregoing, the Company's profitability would be materially adversely impacted; and (5) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Stem, Inc. f/k/a Star Peak Energy Transition Corp. (NYSE:STEM)

If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/stem-inc-class-action-submission-form?prid=39699&wire=1
Lead Plaintiff Deadline: July 11, 2023
This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired Stem securities: (a) pursuant and/or traceable to certain documents issued in connection with the merger consummated on April 28, 2021, by and among the Company, STPK Merger Sub Corp., and Stem, Inc., a private Delaware corporation; and/or (b) between March 4, 2021, and February 16, 2023, both dates inclusive.

Allegations against STEM include that: (i) Legacy Stem suffered from material weaknesses in internal control over financial reporting related to accounting for the deferred cost of goods sold and inventory, certain revenue recognition calculations, and internal-use capitalized software calculations; (ii) the Company had overstated Legacy Stem's and its own post-Merger business and financial prospects; (iii) Stem's software revenue did not makeup 100% of the Company's services revenue; (iv) Stem had overstated the benefits expected to flow from its AP partnership; and (v) as a result, the offering documents and defendants public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong

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