Backdating Charges Surface In Caremark Row

Law360, New York (January 30, 2007, 12:00 AM EST) -- Hoping to suppress evidence of stock option backdating, directors of Caremark Rx Inc. are choosing to take a deal that minimizes the profit for shareholders, Express Scripts Inc. charges in an amended lawsuit regarding its race with CVS Corp. to take over the pharmaceutical benefit company.

In a complaint filed on Monday, Express Scripts accused the directors of “manipulating the corporate processes” by choosing to go with CVS’ $21 billion bid, which would benefited them more than stockholders.

The complaint further alleges that CVS has agreed...
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