Longs Drug Stores Strikes Deal In CVS Merger Suits

Law360, New York (September 10, 2008, 12:00 AM EDT) -- Longs Drug Stores Corp. has struck a deal aimed at resolving two putative class actions brought by shareholders who asked the court to block the proposed $2.9 billion acquisition of the company by CVS Caremark Corp, Longs said on Wednesday.

The complaints, which were filed in August in the Superior Court of the State of California, County of Contra Costa County, name Longs and CVS Caremark, as well as various individuals as defendants. The proposed settlement is subject to several conditions, and still has to garner...
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