Walgreens has initiated legal action against a $987 million arbitration award to telemedicine provider PWNHealth, labeling it as 'egregious and improper'. The retail pharmacy giant has requested a Delaware federal judge to nullify the award stemming from a contract dispute, as reported by MikeScarcella. This legal battle comes amid other significant financial news for Walgreens, including a notable profit beat and the booking of a $5.8 billion impairment charge related to its VillageMD investment.
Walgreens books $5.8-billion impairment charge on VillageMD investment https://t.co/PKq4FZowra https://t.co/odTZtFETch
Walgreens books US$5.8-billion impairment charge on VillageMD investment https://t.co/BCWc98DcqM
Walgreen’s stock gains after big profit beat, while full-year outlook was lowered https://t.co/OtZhyNFOrx