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CITY OF MIAMI FIRE FIGHTERS' v. CVS HEALTH CORP.

No. 21-1479.

46 F.4th 22 (2022)

CITY OF MIAMI FIRE FIGHTERS' AND POLICE OFFICERS' RETIREMENT TRUST, individually and on behalf of all other persons similarly situated; International Union of Operating Engineers Pension Fund of Eastern Pennsylvania and Delaware, individually and on behalf of all other persons similarly situated, Plaintiffs, Appellants, v. CVS HEALTH CORPORATION; Larry J. Merlo; David M. Denton; Jonathan C. Roberts; Robert O. Kraft; Eva C. Boratto, Defendants, Appellees.

United States Court of Appeals, First Circuit.

August 18, 2022.

Attorney(s) appearing for the Case

Jeremy A. Lieberman , with whom Brian Calandra , Patrick V. Dahlstrom , Pomerantz LLP, James E. Miller , Eric L. Young , Jayne A. Goldstein , Miller Shah LLP, Robert D. Klausner , Stuart Kaufman , Klausner, Kaufman, Jensen & Levinson, Stephen Cypen , and Cypen & Cypen were on brief, for appellants.

Steven M. Farina , with whom George A. Borden , Amanda M. MacDonald , Michael J. Mestitz , Elizabeth A. Wilson , Williams & Connolly LLP, Robert C. Corrente , and Whelan Corrente & Flanders LLP were on brief, for appellees.

Before Lynch, Kayatta, and Gelpí, Circuit Judges.

Two retirement funds brought this putative securities fraud class action against CVS Health Corporation arising out of difficulties CVS Health experienced in the wake of its acquisition of Omnicare, Inc., a company that provides pharmacy services to long-term care facilities. Plaintiffs allege that executives of CVS Health...

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