CVS - Lawsuit for Investors who held shares of Aetna Inc (NYSE: AET) and received NYSE: CVS shares announced by Shareholders Foundation
SAN DIEGO, June 04, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held Aetna Inc (NYSE: AET) shares.
Investors, who held shares of Aetna Inc (NYSE: AET) and received CVS Health (NYSE: CVS) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 3, 2017, CVS Health and Aetna announced the execution of a merger agreement under which CVS Health will acquire all outstanding shares of Aetna for a combination of cash and stock.
However, the plaintiff alleges that CVS Health issued shares of CVS Health stock to former Aetna investors based on a registration statement filed with the SEC rife with “false and misleading financial results, trends and metrics.” The plaintiff alleges that the registration statement was false and misleading because it touted the purported success and benefits of CVS Health’s 2015 acquisition of Omnicare, Inc, while failing to disclose that, in truth, by the time of the merger, CVS Health’s financial condition and expected earnings were already severely deteriorating as a result of rising costs and poor results associated with the acquisition of Omnicare.
Shares of CVS Health declined from $81.56 per share in November 2018 to as low as $51.72 per share on May 17, 2019.
Those who held Aetna Inc shares and received CVS Health shares as a result of the takeover should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.