Rite Aid Corporation (NYSE:RAD) Ordered To Pay $12M In Environment Lawsuit

Posted by Lynn Eisler October 11, 2013 0 Comment 776 views

Rite Aid Corporation (NYSE:RAD) has now been ordered to pay more than $12M to resolve a civil-lawsuit that had been filed against it, in California. In September, an environmental lawsuit had been filed against Rite Aid Corporation (NYSE:RAD). The allegation was that around 600 of the company’s stores are dumping bleach, pesticides as well as other toxins, illegally. This lawsuit had been brought by the San Joaquin, LA and Riverside counties district attorneys and a total of 52 district attorneys in California had participated in this civil action.

Thursday’s trading

In Thursday’s trading, Rite Aid Corporation (NYSE:RAD) rose by 3.52%. The opening price of the shares was $4.98, which climbed to an intraday high of $5.10 and dipped to a close of $5.00. Approximately 39.71 million shares were traded on Thursday while an average volume of 34.55 million shares were traded over a 30 day period. The 52-week low of Rite Aid Corporation (NYSE:RAD) shares is $0.95 and its 52-week high is $5.33. The company has a market capitalization of $4.58 billion.

About the company

Rite Aid Corporation (NYSE:RAD) is a retail drugstore-chain in the U.S. As of 3 March 2013, it operated 4,623-stores across 31 states in the country as well as the District of Columbia. At the company stores, it sells prescription-drugs and a variety of other merchandise. These are referred to as its front-end products. In the financial year that ended 3 March 2013 prescription-drug sales accounted for 67.6 percent of the company’s total sales. It also carries a variety of front-end products.

These accounted for 32.4 percent of its total-sales in the 2013 financial year. The company’s front-end products include OTC medications, beauty and health aids, personal-care items, convenience foods household items, cosmetics, greeting cards, beverages, seasonal merchandise and many other convenience and everyday products. The stores also handle photo processing.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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