NEW YORK, Aug. 11, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at CVS Health Corporation ("CVS" or the "Company") (NYSE: CVS).
The investigation focuses on whether the Company's Board of Directors and its officers committed mismanagement and breached their fiduciary duties. On August 7, 2017, a class action complaint was filed in the United States District Court, District of Rhode Island, against CVS alleging violations of (a) the Employee Retirement Income Security Act of 1974 ("ERISA"), (b) violations of state law and (c) violations of the Racketeering Influenced and Corrupt Organizations Act ("RICO"). The complaint alleged that CVS participated in a fraudulent scheme to overcharge for certain generic pharmaceuticals by: (i) deliberately charging customers who use their insurance more for certain generic pharmaceuticals as compared to those customers who pay cash or simply do not use their insurance, and (ii) overcharging customers by collecting "co-pays" that exceed the pharmacists' price and profit and subsequently remitting the excess payments to large pharmacy benefit managers.
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If you currently own CVS stock and have continuously owned CVS stock and would like to discuss your legal rights, please visit www.faruqilaw.com/CVS. You can also contact us by calling Nina Varindani or Stuart Guber toll free at (212) 983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding CVS's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
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Attn: Nina Varindani
Telephone: (212) 983-9330
Attn: Stuart J. Guber
Telephone: (215) 277-5770
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