CVS Says Aetna Investor Suit Fails Like Ones Before It on Appeal

CVS Health Corp. has already beaten five investor proposed class complaints tied to disclosures around its 2018 Aetna acquisition—a sixth should be tossed for the same reasons, the company told a federal appeals court.

“One after another,” the US District Court for the District of Rhode Island, the New York Appellate Division, the Rhode Island Superior and Supreme Courts, and the court here “have dismissed the same or substantially similar claims” after applying long-standing federal securities law, CVS told the US Court of Appeals for the First Circuit.

The lower court correctly held that the disclosures CVS made before and ...