NEW YORK, NY / ACCESSWIRE / September 13, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
CVS Health Corporation (CVS)
Class Period: shareholders who acquired CVS shares in exchange for their Aetna shares in connection with CVS’s acquisition of Aetna on November 28, 2018
Deadline: October 14, 2019
For more info: www.bgandg.com/cvs
In connection with the acquisition of Aetna (the “Acquisition”), defendants filed with the SEC a Registration Statement on Form S-4, which was declared effective on February 9, 2018, and a joint proxy statement/prospectus on Form 424B3 (collectively the “Offering Documents”). The complaint alleges that the Offering Documents contained materially false and/or misleading statements about CVS’s compliance with Generally Accepted Accounting Principles (“GAAP”). Specifically, CVS misrepresented in the Offering Documents that it had properly accounted for its $6+ billion goodwill asset, as reported in the “LTC unit,” associated with CVS’s 2015 acquisition of LTC pharmacies of Omnicare.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:(1) the Company was unable to close large deals within the quarter and that the deals were pushed out to subsequent quarters or downsized; (2) the Company's revenue would be materially impacted; (3) the Company would lower its fiscal 2020 guidance; and (4) as a result, NetApp’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statementsand/or failed to disclose that:(1) the existence of SEC and internal investigations into the Company’s financial reporting; (2) the need for SAEX to restate all of its financial statements covering 2015 through 2018; (3) CEO Jeffrey Hastings had been placed on administrative leave; and (4) CFO and General Counsel Brent Whitely had been fired.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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