CVS Health Corporation
Case Overview
28 Days Left to Seek Lead Plaintiff
Lead Plaintiff Deadline: | Lead Plaintiff Deadline: 09/10/2024 |
Status: | Status: Investigating |
Company Name: | Company Name: CVS Health Corporation |
Court: | Court: Southern District of New York |
Case Number: | Case Number: 1:24cv05303 |
Class Period: | Class Period: 05/03/2023 - 04/30/2024 |
Ticker: | Ticker: CVS |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired CVS Health Corporation (“CVS” or the “Company”) (NYSE: CVS) securities during the period of May 3, 2023 through April 30, 2024, inclusive (“the Class Period”). Investors have until September 10, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Contact Instructions
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired CVS Health Corporation (“CVS” or the “Company”) (NYSE: CVS) securities during the period of May 3, 2023 through April 30, 2024, inclusive (“the Class Period”). Investors have until September 10, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that CVS made false and/or misleading statements and/or failed to disclose that: (i) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (ii) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the Company's forecasts and thus not covered by plan premiums; (iii) accordingly, CVS had overstated the profitability of its Health Care Benefits segment; and (iv) the revenues generated from the Company's other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the Health Care Benefits segment.
The lawsuit alleges that CVS made false and/or misleading statements and/or failed to disclose that: (i) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (ii) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the Company's forecasts and thus not covered by plan premiums; (iii) accordingly, CVS had overstated the profitability of its Health Care Benefits segment; and (iv) the revenues generated from the Company's other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the Health Care Benefits segment.