Judge Says CVS Shareholders Properly Pleaded Material Misrepresentation, Scienter

Judge Says CVS Shareholders Properly Pleaded Material Misrepresentation, Scienter

PROVIDENCE, R.I. - Dismissal of a shareholder class action lawsuit challenging the merger that brought CVS Caremark Corp. together is not warranted because the shareholders have properly pleaded a material misrepresentation and scienter in making their federal securities law claims, a federal judge in Rhode Island ruled Dec. 31 (City of Brockton Retirement System, et al. v. CVS Caremark Corp., et al., No. 09-554, D. Rhode Island; 2013 U.S. Dist. LEXIS 181627).

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