Former Rite Aid Executive Enters Plea

Timothy J. Noonan, the former Rite Aid Corp. executive who helped federal prosecutors build a securities fraud case against his onetime colleagues, pleaded guilty to a felony charge of withholding information from the firm’s internal investigators.

Noonan, 60, of Mechanicsburg, Pa., who became the company’s president and chief operating officer during his 30-year career at Rite Aid, faces as many as three years in prison and a $250,000 fine. He was released on his own recognizance.

Prosecutors are expected to recommend that Noonan be placed on probation if he continues to cooperate under the terms of a plea agreement he signed in November. No sentencing date has been set.