Reuters logo
3 years ago
BRIEF-CVS to pay $20 mln to settle SEC case over disclosures, accounting
April 8, 2014 / 5:15 PM / 3 years ago

BRIEF-CVS to pay $20 mln to settle SEC case over disclosures, accounting

1 Min Read

April 8 (Reuters) - CVS Caremark Corp : * SEC files civil lawsuit against CVS Caremark Corp over alleged

misleading disclosures in 2009-2010, inappropriate accounting in 2009 --

court filing * SEC says accuses CVS of materially incompete and misleading disclosures

regarding expected results in its pharmacy benefits manager business for 2010 * SEC says accuses CVS of inappropriate accounting treatment for acquisition of

chain of drugstores, causing retail operating results to be materially

overstated in Q3 2009 * SEC says CVS agrees to pay $20 million to settle charges * SEC says CVS neither admitted nor denied the allegations * SEC says former CVS retail controller laird daniels, who it accused of

improper accounting adjustments, to pay $75,000 penalty in related

settlement, also without admitting wrongdoing

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below