Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of CVS Health Corporation (NYSE: CVS) between May 3, 2023 and April 30, 2024. CVS describes itself as a “healthcare company that operates through three primary segments: Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness.”

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The Allegations: Rosen Law Firm is Investigating the Allegations that CVS Health Corporation (NYSE: CVS) Misled Investors Regarding its Business Operations.

According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (2) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the CVS’ forecasts and thus not covered by plan premiums; (3) accordingly, CVS had overstated the profitability of its Health Care Benefits segment; (4) contrary to defendants’ assurances, the revenues generated from CVS’ other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the Health Care Benefits segment; and (5) as a result, CVS’ 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.

What Now: You may be eligible to participate in the class action against CVS Health Corporation. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 10, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.

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