U.S. pension adviser CTW Investment Group has asked the Securities and Exchange Commission to investigate private meetings that executives of Walgreen Co held with investors on moving its tax home base to Europe, the New York Post reported. CTW is raising questions about whether the drugstore chain operator's meetings in April with investors Goldman Sachs, Jana Partners, Och-Ziff and Corvex ran afoul of fair disclosure rules, the NY Post said. (bit.ly/1laOCcG)"Walgreen may have put the vast majority of its investors at a disadvantage while positioning influential hedge funds to profit from material, non-public information," CTW's Michael Pryce-Jones said, according to the NY Post.With more than 8,200 drugstores in the United States, Chicago-based Walgreen has been under pressure from some of its investors to purchase out the stake it does not already own in Alliance Boots and establish a new tax domicile in Switzerland.The push was made at a private meeting between the shareholder group and company executives in Paris in April, the Financial Times reported.
Walgreen Co. (Walgreens), together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG fell by 1.74% or $-1.24/share to $70.18. In the past year, the shares have traded as low as $46.75 and as high as $76.39. On average, 5407400 shares of WAG exchange hands on a given day and today's volume is recorded at 5152866.
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