Drugstore chain accused of overcharging

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Thursday, Sept. 23, 1999 | 11:29 a.m.

THE ASSOCIATED PRESS

CAMP HILL, Pa. -- Shares of Rite Aid Corp. fell as much as 19 percent after the third-largest U.S. drugstore chain was accused by Florida's attorney general of overcharging customers.

Rite Aid shares today fell 2.19 to 11.81. The price has fallen for three straight days, and one analyst said offers to acquire Rite Aid are now possible.

Florida filed a racketeering lawsuit against the company Thursday, alleging it overcharged 29,000 uninsured prescription-drug customers.

Rite Aid denied the allegations. A spokesman at the Nevada attorney general's office said he was unaware of the allegations, indicating Rite Aid is not under investigation by Nevada officials.