SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of CVS Health Corporation Investors

NEW YORK, May 30, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in CVS Health Corporation (“CVS” or the “Company”) (NYSE: CVS). Such investors are encouraged to contact Danielle Peyton at (email protected) or 646-581-9980, extension 7980.

The investigation concerns whether CVS and certain of its officers and/or directors engaged in securities transactions. Fraud or other unlawful business practices.

(Click here for information on joining the class action lawsuit.)

At May 1, 2024CVS released a press release announcing its first quarter 2024 results and revising its full-year 2024 guidance. Among other things, CVS reported 88.4 billion US dollars in revenues that did not meet expectations 89 billion US dollars. The company stated that higher healthcare utilization, i.e. higher insurance spending, weighed on results in addition to Medicare reimbursement rate cuts that will continue to pressure CVS for the remainder of the year. Accordingly, CVS issued revised full-year 2024 guidance, including “(revised) GAAP diluted earnings per share guidance to at least $5.64 of at least $7.06“; “(revised) forecast for adjusted earnings per share to at least 7,00 € of at least $8.30“; and “(revised) cash flow forecast from operating activities to at least 10.5 billion US dollars of at least 12.0 billion US dollars“.

Following this news, CVS’s share price fell 11,40 € per share or 16.84% and closed at $56.31 per share on May 1, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of victims of securities class action litigation. FraudBreach of fiduciary duty and corporate misconduct. The firm has won numerous millions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 extension 7980

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