Walgreens Boots Alliance Inc (WBA)

[big-yank]

Most of the claims floated out there by Miquelon that seem to be the most condemning to Walgreens, if ever proven and publically revealed in detail, have no apparent relevance to his defamation suit. They amount to an unemployed CFO who has known where many skeletons in the closet were buried during his tenure, including many of his own possible creation, trotting out "dirty laundry" to extract a fat settlement from of his former employer. This is a high risk strategy on Miquelon's part since I doubt any public company would ever hire him in the future after so predatory a bargaining position. The word "extortion" comes to mind.

No major financial trader would buy or sell shares based on inside information, if and that is a BIG if, any such meeting was truly held or such info divulged. Not unless they were really stupid and harbored a deep-seated desire to dine with Bernie Madoff at the prison dinner table for a prolonged span of years. If no privileged trades occurred, there is no basis for any shareholder actions. An SEC infraction for sharing too much info with the wrong person is a "naughty boy" slap on the wrist.

If you want to find a company with huge governance problems, dig a little deeper into the Citigroup FX mess which makes this Walgreens distraction look like pocket change. Glad I sold my C stock, also.