On December 5, 2024, KLF’s clients, the Southeastern Pennsylvania Transportation Authority (“SEPTA”) and the City of Miami Firefighters’ and Police Officers’ Retirement Trust (“Miami”), along with another public pension fund, were appointed co-lead plaintiffs in the securities class action against CVS Health Corporation (“CVS”).

The class action lawsuit is pending in the United States District Court for the Southern District of New York before the Honorable Judge Margaret M. Garnett.

The lawsuit alleges that between February 9, 2022, and April 30, 2024, CVS made false and misleading statements regarding its efforts to reduce overall healthcare costs and its expectations for continued growth in Medicare and Commercial membership.

The lead plaintiffs, SEPTA and Miami, plan to file a consolidated amended complaint in the coming months.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (ii) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the Company’s forecasts and thus not covered by plan premiums; (iii) accordingly, CVS had overstated the profitability of its Health Care Benefits segment; (iv) contrary to Defendants’ assurances, the revenues generated from the Company’s other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the Health Care Benefits segment; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Questions About the CVS Securities Class Action Lawsuit?

CVS investors with questions about the class action lawsuit are encouraged to send us a message or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected].

About Kehoe Law Firm, P.C. 

Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side class action law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct.  Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

Kehoe Law Firm’s legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

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Tel: 215-792-6676

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[email protected]

On August 26, 2024, KLF, in partnership with its co-counsel, filed a class action lawsuit in United States District Court, Northern District of Georgia, against Home Depot, Inc. alleging that the Administrative Committee of The Home Depot FutureBuilder employee benefit plan violated the Employee Retirement Income Security Act (ERISA).

The class action claims that the Administrative Committee failed to act in the best interests of plan participants by using unvested portions of participants’ accounts—commonly referred to as “forfeitures”—to offset the company’s own contributions rather than applying these funds to reduce plan expenses for participants.

The Home Depot Defendants filed a motion to dismiss the complaint, claiming that they have not violated the provisions of ERISA.  The briefing is complete, and the motion is currently pending before the Court.

Please click 2023 Home Depot FutureBuilder Form 5500 Annual Return/Report of Employee Benefit Plan for more information about the employee benefit plan.

Questions About the Home Depot FutureBuilder ERISA Lawsuit?

If you are a participant in the Home Depot FutureBuilder employee benefit plan and have questions or concerns about the lawsuit or your legal options, please contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected] for a free, no-obligation evaluation of potential legal claims.

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side class action law firm specializing in securities fraud, breaches of fiduciary duties, and corporate misconduct. The firm’s partners have collectively served as Lead Counsel or Co-Lead Counsel in high-profile cases, recovering over $10 billion for institutional and individual investors.

Kehoe Law Firm, P.C. and its co-counsel successfully secured a derivative settlement with the Dollar Tree Defendants in 2024, addressing critical product and workplace safety failures at Dollar Tree and its subsidiary, Family Dollar.

Following months of negotiations, the settlement resulted in significant corporate governance reforms, including enhanced Board-level oversight of safety measures through quarterly and semi-annual reporting and the creation of a Chief Compliance Officer position.

Michael Yarnoff, a Partner at Kehoe Law Firm, emphasized the importance of these reforms, stating, “Dollar Tree’s reforms will help protect the company from substantial liability, such as the recent $42 million fine and guilty plea by Family Dollar for food safety violations at its warehouses. These long-overdue changes will strengthen the company’s commitment to safety and compliance.”

Questions About the Settlement?

Please address any questions or concerns about the settlement or the litigation to Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected].

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side class action law firm specializing in securities fraud, breaches of fiduciary duties, and corporate misconduct. The firm’s partners have collectively served as Lead Counsel or Co-Lead Counsel in high-profile cases, recovering over $10 billion for institutional and individual investors.

On January 15, 2025, Judge J. Paul Oetken denied Defendants’ motion to dismiss, marking a resounding win for our client, Southeastern Pennsylvania Transportation Authority (“SEPTA”), and the class members that SEPTA seeks to represent.  Judge Oetken found that SEPTA’s complaint properly alleged antitrust and unjust enrichment claims.

Notably, Judge Oetken found that SEPTA properly alleged that between 2010 and 2014, the Defendants—nine large Mexican banks—colluded to sell Mexican Government Bonds (“MGB”) at artificially high prices.  He referenced numerous chatroom transcripts alleged within the complaint that showed the improper communications between the Defendants to explicitly discuss and coordinate MGB prices.  He also considered statistical data that showed increased bid-ask spreads and price inflation in the MGB secondary market.

Judge Oetken found the complaint set forth allegations that “read as explicit agreements between Defendants to raise the price of certain MGBs in concert,” and adequately allege the existence of a conspiracy in violation of the Sherman Act.

Further, he found that SEPTA and the other Plaintiffs “have shown that they experienced an antitrust injury and that they are the proper parties to bring this enforcement suit” and that while investment contracts must have existed between Plaintiffs and Defendants for the MGBs exchanged, because such contracts would not “clearly cover … whether Defendants were permitted to collude on MGB resale prices in the secondary market,” the unjust enrichment claims may also proceed.

Importantly, he also found that the statute of limitations was tolled due to Defendants’ fraudulent concealment, as the conspiracy was inherently secret and only became apparent after regulatory investigations were announced.

This decision occurs after an earlier partial $20.7 million settlement was reached with various affiliates of Barclays and JPMorgan Chase & Co., which required their cooperation against the non-settling Defendants.

More information on that partial settlement is available by clicking here:

We look forward to continuing to prosecute this case on behalf of SEPTA and class members.

Questions About the Mexican Government Bonds Antitrust Class Action Lawsuit?

To learn more about the class action lawsuit, please contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected].

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side class action law firm specializing in securities fraud, breaches of fiduciary duties, and corporate misconduct. The firm’s partners have collectively served as Lead Counsel or Co-Lead Counsel in high-profile cases, recovering over $10 billion for institutional and individual investors.