CVS Caremark Hit With Shareholder Derivative Suit

Law360, New York (December 23, 2009, 6:38 PM EST) -- A CVS Caremark Corp. shareholder has launched a derivative action on behalf of the company, claiming the drugstore chain's executives violated federal securities laws by making misleading statements about its 2009 selling season and its expected business prospects for 2010.

In a complaint filed Tuesday in the U.S. District Court for the District of Rhode Island, CVS shareholder Mark Wuotila claims that the revelation of false statements issued by CVS Chairman and CEO Thomas M. Ryan in 2009 regarding the success of the company's pharmacy benefit...
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