Le Lézard
Classified in: Business
Subject: ATY

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of CVS Health Corporation - CVS


NEW YORK, May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of CVS Health Corporation ("CVS" or the "Company") (NYSE: CVS). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.

The investigation concerns whether CVS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On May 1, 2024, CVS issued a press release reporting its first quarter 2024 results and revising its full-year 2024 guidance. Among other items, CVS reported $88.4 billion in revenue, missing expectations of $89 billion. The Company stated that higher utilization of healthcare services, meaning more insurance dollars spent, weighed on its results in addition to Medicare reimbursement rate cuts that will continue to pressure CVS for the remainder of the year. Accordingly, CVS issued revised full-year 2024 guidance, including "[r]evised GAAP diluted EPS guidance to at least $5.64 from at least $7.06"; "[r]evised Adjusted EPS guidance to at least $7.00 from at least $8.30"; and "[r]evised cash flow from operations guidance to at least $10.5 billion from at least $12.0 billion". 

On this news, CVS's stock price fell $11.40 per share, or 16.84%, to close at $56.31 per share on May 1, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP


These press releases may also interest you

at 16:35
Birchcliff and AltaGas Enhance Long-Term Partnership
Birchcliff Energy Ltd. ("Birchcliff") and AltaGas Ltd. ("AltaGas") are pleased to announce an expanded partnership focused on reducing long-term operating costs and connecting more liquified...

at 16:30
ZKH Group Limited Announces US$50 Million Share Repurchase Program
ZKH Group Limited , a leading maintenance, repair and operations ("MRO") procurement service platform in China, announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$50 million...

at 16:30
Pyxus Achieves SBTi Validation of its Science-based Emissions Reduction Targets
Pyxus International, Inc. , a global value-added agricultural company, today confirmed its near-term greenhouse gas (GHG) emissions reduction targets have received approval from the Science Based Targets initiative (SBTi)....

at 16:30
W. P. Carey Increases Quarterly Dividend to $0.870 per Share
W. P. Carey Inc. (W. P. Carey, NYSE: WPC) reported today that its Board of Directors increased its quarterly cash dividend to $0.870 per share, equivalent to an annualized dividend rate of $3.48 per share. The dividend is payable on July 15, 2024 to...

at 16:30
NaaS Technology Inc. Announces Completion of ADS Ratio Change
NaaS Technology Inc. ("NaaS" or the Company"), the first U.S. listed EV charging service company in China, today announces that the previously announced change of the ratio (the "ADS Ratio") of its American depositary shares (the "ADSs") to its...

at 16:30
MSC INDUSTRIAL SUPPLY CO. PROVIDES PRELIMINARY FISCAL THIRD QUARTER RESULTS AND UPDATES OUTLOOK FOR THE FULL FISCAL YEAR
PRELIMINARY FISCAL 2024 Q3 RESULTS Net sales of approximately $978-$980 million down 7.3%-7.1% YoY and includes a roughly 300 basis point headwind from non-repeating Public Sector orders in the prior yearAverage daily sales up approximately 3%...

More news about Business...


News published on and distributed by: