CVS Caremark Corporation (NYSE:CVS) 6.125% Senior Notes (due 2039) Investor Class Action Lawsuit

Our law firm is investigating potential claims on behalf of investors of CVS Caremark Corporation (NYSE:CVS) that purchased 6.125% Senior Notes (due 2039) over possible violations of US securities laws due to possible false and misleading statements made by the company and its officers. 

If you have purchased CVS Caremark Corporation (NYSE:CVS) 6.125% Senior Notes (due 2039), call 1-800-934-2921 right now to protect your rights.

 

Our law firm believes that CVS Caremark Corporation (NYSE:CVS) may have violated US securities laws, and the actions of the company may have caused investors of the company to be negatively affected.

CVS Caremark Corp, the second largest U.S. drugstore chain, has recently announced that it will pay $20 million to settle U.S. Securities and Exchange Commission charges that it defrauded investors in 2009 during a $1.5 billion bond offering.

According to the SEC's complaint, when offering documents for a $1.5 billion bond offering in 2009, CVS fraudulently omitted that it had recently lost significant Medicare Part D and contract revenues in the pharmacy benefits segment.  Investors were therefore misled about the expected future financial results for that line of business.  When CVS eventually revealed the full extent of the setbacks on Nov. 5, 2009, its stock price fell 20 percent in one day. CVS further misled investors on an earnings call that same day by maintaining there was a slight improvement in its “retention rate,” when in fact the company had simply manipulated the way that it calculated that rate in order for it to fraudulently appear so. 

According to Andrew Ceresney, director of the SEC’s Division of Enforcement, “CVS broke faith with investors in both its stock and its bonds by disguising significant setbacks for its pharmacy benefits management business, the intentional misconduct by CVS breached the core principle of fair and accurate reporting of financial performance.”

Our law firm is investigating potential claims on behalf of investors of CVS Caremark Corporation (NYSE:CVS) over possible violations of US securities laws due to possible breaches of fiduciary duty by officers of the company. If you have purchased 6.125% Senior Notes (due 2039) offered by CVS Caremark Corporation (NYSE:CVS), contact our law firm right now to protect your rights.

Own CVS Caremark Corporation (NYSE:CVS) 6.125% Senior Notes (due 2039)? Contact us to protect your rights.

If you have purchased CVS Caremark Corporation (NYSE:CVS) 6.125% Senior Notes (due 2039), complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights. 

Complete the form below for a free no obligation consultation. 

 

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