NEW YORK, NY / ACCESSWIRE / September 18, 2019 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of CVS Health Corporation (CVS) in connection with the November 28, 2018 acquisition, inclusive (the "Class Period"). The lawsuit seeks to recover damages for CVS Health Corporation investors under the federal securities laws.
To join the class action, go to http://pawarlawgroup.com/cases/cvs-health-corporation/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email firstname.lastname@example.org for information on the class action.
According to the lawsuit, the Company made false and misleading statements to the market. CVS's financial condition had deteriorated due to rising costs and poor results in the long-term care ("LTC") unit that was part of the Omnicare acquisition of 2015. These deteriorating conditions caused CVS to undertake rapid acquisitions of LTC organizations to make up for the poorly performing business in advance of the Aetna acquisition. The Company also violated GAAP accounting principles related to goodwill impairment in the LTC business. Based on these facts, the Company's public statements were false and materially misleading throughout the acquisition period. When the market learned the truth about CVS, investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 14, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
SOURCE: Pawar Law Group
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