BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of CVS Health Corporation (“CVS” or the “Company”) (NYSE: CVS) investors concerning the Company’s possible violations of federal securities laws.
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, CVS’s stock price fell $11.40, or 16.8%, to close at $53.31 per share on May 1, 2024, thereby injuring investors.
If you purchased CVS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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