CVS Health Corporation (NYSE: CVS)

This lawsuit is for anyone who acquired securities in CVS Health Corporation (NYSE: CVS) from February 9, 2022 through April 30, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by knowing, but failing to timely inform investors that increased medical costs from its Medicare insurance business would decrease profits.

On May 1, 2024, CVS released its first quarter 2024 financial results, stating that adjusted earnings for the year would be approximately $7 a share, down from previous expectations of at least $8.30. Additionally, the Company lowered its forecast for cash flow from operations by $1.5 billion. The Company cited increased medical costs in its Medicare insurance business as the cause of the lowered guidance. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in CVS Health Corporation (NYSE: CVS) from February 9, 2022 through April 30, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.