The Law Offices of Frank R. Cruz announces an investigation of CVS Health Corporation (“CVS” or the “Company”) (NYSE: CVS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On May 1, 2024, CVS released its first quarter 2024 financial results, stating that adjusted earnings for the year would be approximately $7 a share, down from previous expectations of at least $8.30. Additionally, the Company lowered its forecast for cash flow from operations by $1.5 billion. The Company cited increased medical costs in its Medicare insurance business as the cause of the lowered guidance.
On this news, CVS’s stock price fell $11.40, or 16.8%, to close at $53.31 per share on May 1, 2024, thereby injuring investors.
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If you purchased CVS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240502410764/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
