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In March, the Justice Department filed a complaint against Rite Aid, alleging it knowingly filled hundreds of thousands of unlawful prescriptions for controlled substances from May 2014-June 2019. It also accused pharmacists and the company of ignoring “red flags” indicating the prescriptions were illegal.
Pharmacy chain Rite Aid said that it has filed for bankruptcy and obtained $3.45 billion in fresh financing as it carries out a restructuring plan.
The cannabis industry has had its fair share of trials and tribulations over the past few years.
Sheppard Mullin's Restructure THIS! podcast explores the latest trends and controversies in Chapter 11 bankruptcy, commercial insolvency and distressed investing.