Robbins LLP reminds shareholders

SAN DIEGO, July 23, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a class action lawsuit has been filed by a shareholder on behalf of all persons and entities who purchased or otherwise acquired securities of CVS Health Corporation (NYSE: CVS) between May 3, 2023 and April 30, 2024. CVS is a healthcare company.

For further information please send a form, E-mail Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP investigates allegations that CVS Health Corporation (CVS) misled investors about its business prospects

The complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the projections CVS used to determine plan premiums failed to account for trends in medical costs and healthcare utilization patterns; (ii) as a result, CVS likely had to incur significant expenses to cover cost increases that were not reflected in the Company’s projections and thus not covered by plan premiums; (iii) accordingly, CVS overstated the profitability of its Health Care Benefits segment; (iv) contrary to Defendants’ representations, revenue from the Company’s other major segments was insufficient to offset the negative financial impact of increasing expenses in the Health Care Benefits segment; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the truth came to light, the Company’s stock price declined, harming investors.

What now: You may be eligible to participate in the class action lawsuit against CVS Health Corporation. Shareholders who wish to serve as lead plaintiff for the class action lawsuit must file their motions with the Court by September 10, 2024. A lead plaintiff is a representative party acting on behalf of other class members and directing the litigation. You do not have to participate in the case to be eligible for compensation. If you choose not to take action, you may remain an absent class member. For more information, click here Here.

Representation is on a contingency basis. Shareholders pay neither fees nor expenses.

About Robbins LLP: Some law firms issuing press releases on this matter do not litigate securities class actions; Robbins LLP does. As a recognized leader in shareholder litigation, the attorneys and staff of Robbins LLP Since 2002, we have been committed to helping shareholders recover losses, improve corporate governance, and hold corporate leaders accountable for wrongdoing. Since our founding, we have recovered over $1 billion for our shareholders.

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