Labourers' Pension Fund of Cent. & E. Can. v. CVS Health Corp.

1 Citing case

  1. In re CVS Health Corp. Sec. Litig.

    2023-115-Appeal (R.I. Jan. 14, 2025)

    The Appellate Division of the Supreme Court of New York in LPF court concluded that a group of CVS's shareholders "failed to plead an actionable opinion * * * because it did not identify any embedded facts in the opinion on goodwill" and the shareholders "failed to plead an actionable opinion * * * because the nature of the inquiry in forming the opinion was disclosed and [the shareholders do] not allege that the stated methodology was not followed." Labourers' Pension Fund of Central & Eastern Canada v. CVS Health Corporation, 144 N.Y.S. 3d 16, 17-18 (N.Y.App.Div. 2021). Likewise, the court in Fire Fighters affirmed the dismissal of CVS shareholder claims brought pursuant to the Securities and Exchange Act of 1934, holding that the plaintiffs failed to sufficiently allege "facts about the state of the LTC business at particular points in time to enable [the court] to conclude that any of the goodwill write-downs were too late or that * * * [the] alleged misstatements contradicted the state of the business as it then stood."