Lauren M. Kofke and William D Savitt of Wachtell, Lipton, Rosen & Katz have stepped in to represent CVS Health and other defendants in a pending securities class action. The action, filed July 12 in New York Southern District Court by Pomerantz LLP and the Schall Firm, contends that CVS' public financial statements were materially false and misleading. According to the complaint, the defendants failed to disclose that the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends, which would result in CVS likely incurring significant expenses to cover the cost increases. The case, assigned to U.S. District Judge Margaret M. Garnett, is 1:24-cv-05303, Nixon v. CVS Health Corporation et al.
Health Care
August 26, 2024, 1:27 PM