Dismissal Of Federal Securities Claims In CVS Stock-Drop Lawsuit ‘On The Mark’

Mealey's (August 22, 2022, 11:25 AM EDT) -- BOSTON — A First Circuit U.S. Court of Appeals panel on Aug. 18 ruled that a federal district court’s dismissal of shareholder claims against in a securities class action against CVS Health Corp. and certain of its current and former executive officers (collectively, CVS) stemming from their alleged misrepresentation of the financial condition of CVS Health’s long-term care (LTC) business was “on the mark” because the court properly concluded that the shareholders failed to sufficiently plead any actionable misstatements or omissions in making their federal securities law claims....