BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased CVS Health Corporation (“CVS” or the “Company”) (NYSE: CVS) securities between May 21, 2015 and February 20, 2019, inclusive (the “Class Period”). CVS investors have until April 26, 2019 to file a lead plaintiff motion.
Investors suffering losses on their CVS investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 20, 2019, CVS announced the Company’s fourth quarter and full year financial and operating results and provided 2019 full year guidance. CVS stated that adjusted earnings in 2019 would be $6.68 to $6.88 per share, compared with the $7.36 average of market estimates, citing rising costs and poor results related to the Company’s 2015 acquisition of Omnicare. On this news, CVS’s share price fell $5.66, or 8.1%, to close at $64.22 on February 20, 2019, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) CVS Health’s financial condition and expected earnings were deteriorating as a result of rising costs and poor results associated with the Omnicare Acquisition; and (2) as a result, CVS Health’s public statements were materially false and misleading at all relevant times.
If you purchased shares of CVS, 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, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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