CVS Strikes $20M Settlement To End SEC Probe

Law360, New York (August 2, 2013, 4:08 PM EDT) -- CVS Caremark Corp. has reached a $20 million settlement with the U.S. Securities and Exchange Commission to end an investigation into an accounting adjustment for its 2008 acquisition of Longs Drug Stores Corp., among other matters, the company said Friday.

Woonsocket, R.I.-based CVS said it had reached an agreement in principle with the SEC’s Boston regional office to resolve the probe, which focuses on events in 2009. They include a purchase accounting adjustment for the $2.9 billion deal for Longs Drug Stores, various public disclosures about...
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