Defendant Name: CVS Caremark Corp.

Defendant Type: Public Company
SIC Code: 5912
CUSIP: 12665010

Initial Case Details

Legal Case Name SEC v. CVS Caremark Corp.
First Document Date 08-Apr-2014
Initial Filing Format Civil Proceeding
Case Number 14-cv-00177
Allegation Type Issuer Reporting and Disclosure
Federal District Court Rhode Island, District of Rhode Island

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Securities Act
• Sec 17(a)(1)
• Sec 17(a)(2)
• Sec 17(a)(3)
• Sec 17(a) (Not specified)

Resolutions

First Resolution Date 08-Apr-2014
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

comp-pr2014-69 08-Apr-2014 Complaint
Complaint
On April 8, 2014, the SEC filed a complaint against CVS Caremark Corp. The SEC alleged that CVS issued "materially incomplete and misleading disclosures in September and November 2009 regarding the expected results of operations of the PRM [pharmacy benefits manager] line for business of 2010" and inappropriately accounted for "the acquisition of a chain of drugstores, which caused the results of operations for the retail line of business to be materially overstated in the third quarter of 2009."
LR-22968 08-Apr-2014 Litigation Release
SEC Charges CVS with Misleading Investors and Committing Accounting Violations
On April 8, 2014, the SEC announced that it "charged CVS Caremark Corp. with misleading investors about significant financial setbacks and using improper accounting that artificially boosted its financial performance." According to the SEC: "CVS has agreed to pay $20 million to settle the charges."
2014-69 08-Apr-2014 Press Release--Civil Action
SEC Charges CVS With Misleading Investors and Committing Accounting Violations
On April 8, 2014, the SEC announced that it charged CVS Caremark Corp. with misleading investors about significant financial setbacks and using improper accounting that artificially boosted its financial performance. According to the Commission: "CVS fraudulently omitted that it had recently lost significant Medicare Part D and contract revenues in the pharmacy benefits segment."
court_doc2_14-cv-00177 08-Apr-2014 Court Docket Document
Final Judgment of Permanent Injunction and Other Relief as to Defendant CVS Caremark Corp.
On April 8, 2014, Federal District Judge entered final judgment against CVS Caremark Corp. pursuant to the consent of CVS Caremark Corp.

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In the Matter of Laird Daniels, CPA
Laird Daniels