CVS Reconsideration Denied in Securities Class Action

Kehoe Law Firm, P.C. is counsel to Southeastern Pennsylvania Transportation Authority (“SEPTA”), along with additional lead plaintiffs City of Miami Fire Fighters’ and Police Officers’ Retirement Trust and the Louisiana Sheriffs’ Pension & Relief Fund, in a securities class action against CVS Health Corporation (“CVS”) and certain of its officers pending in the U.S. District Court for the Southern District of New York.

On October 6, 2026, U.S. District Judge Margaret M. Garnett denied CVS’s motion for reconsideration of her earlier ruling on defendants’ motion to dismiss, which allowed significant portions of shareholders’ claims concerning CVS’s alleged use of artificial intelligence in connection with Medicare Advantage care decisions to proceed.

In the class action, Louisiana Sheriffs’ Pension and Relief Fund et al. v. CVS Health Corp. et al., Case No. 1:24-cv-05303, filed in the U.S. District Court for the Southern District of New York, plaintiffs allege that CVS used an artificial intelligence tool in connection with Medicare Advantage post-acute care decisions, resulting in widespread denials of care to elderly patients and generating substantial cost savings.

The lawsuit further alleges that CVS misled investors by failing to disclose material information concerning the use and financial impact of those AI-related practices. Investors also allege that subsequent revelations, including information described in a U.S. Senate report, contributed to a decline in CVS’s stock price.

“We believe the Court’s denial of the reconsideration motion was appropriate and consistent with its prior ruling allowing these important investor claims to move forward,” said John Kehoe, a partner at Kehoe Law Firm. “We look forward to proceeding to discovery and continuing to develop the factual record on behalf of the investor class.”

Investors with questions or concerns about the class action can 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 nationally recognized, plaintiff-side class action law firm representing investors and consumers in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and retirement-plan mismanagement. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

    Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.

     

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    Webull Securities Investigation| BULL

    Did You Lose Money Investing in Webull (BULL)?

    Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Webull Corporation (“Webull” or the “Company”) (NASDAQ: BULL)., including whether investors were adequately informed about matters identified in a Congressional report concerning Webull’s China-related operational ties, customer data practices, corporate governance, regulatory controls, and clearing and custody safeguards.

    Webull investors who purchased or otherwise acquired BULL securities and suffered losses are encouraged to contact Kehoe Law Firm to learn more about the investigation and their potential legal rights.

    Congressional Report Raises Concerns About Webull’s China Ties

    A report issued by the U.S. House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party (“Select Committee”) raises significant concerns regarding Webull’s ties to the People’s Republic of China (“PRC”).

    The Select Committee’s report, “Free Trades, Hidden Ties: Exposing Webull’s China Links,” stated that “[m]illions of American retail investors use Webull under the assumption that it operates as a standard, securely insulated U.S.-regulated brokerage.”

    According to the report, Webull has emphasized that its primary retail interface is registered with the Securities and Exchange Commission and the Financial Industry Regulatory Authority and that its accounts feature standard Securities Investor Protection Corporation consumer protections. The report further states that Webull’s “executive leadership has repeatedly asserted to Congress that Webull is ‘an American company.’”

    House Select Committee Identifies a “Profound Gap” Between Webull’s Public Marketing and Operational Reality

    According to the Select Committee, the evidentiary record developed during its investigation revealed what the Select Committee characterized as a “profound gap” between Webull’s public marketing and its operational reality.

    The Select Committee stated that “[i]n truth, Webull’s ownership architecture, technical workforce, technology infrastructure, cross-border data routing, corporate financing, and compliance frameworks are tied in structural ways to the . . . PRC.”

    The Select Committee further stated that its national security concerns increased after Webull transitioned in October 2025 to directly carrying customer cash, which the Select Committee characterized as transforming a front-end software risk into a structural exposure involving billions of dollars in American capital.

    Select Committee Identifies Six Key Findings Concerning Webull

    • Finding 1 – Customer Data and PRC Risk: Webull’s data practices expose American investors to PRC legal and surveillance risk.
    • Finding 2 – Employee Disclosures: Webull misrepresented where key employees worked and how they were supervised.
    • Finding 3 – PRC-Linked Corporate Control: Webull’s governance is dominated by PRC-linked control.
    • Finding 4 – Regulatory Controls: Webull’s regulatory controls were weaker than its assurances suggested.
    • Finding 5 – PRC Government Funding: Webull’s subsidiary accepted PRC government funding conditional on CCP loyalty while its affiliates expanded in China.
    • Finding 6 – Clearing and Custody: Webull’s clearing and custody safeguards are concerning.

    Webull Shares Drop Significantly Following Congressional Report

    Following news of the Select Committee’s findings concerning Webull, the Company’s stock price declined significantly on October 7, 2026, closing down more than 19%. 

    Webull Securities Class Action Filed

    On October 8, 2026, a securities class action complaint was filed on behalf of persons or entities who purchased or otherwise acquired publicly traded Webull securities between April 26, 2025 and October 6, 2026, inclusive (the “Class Period”).

    The action, Ward v. Webull Corporation, et al., Case No. 8:26-cv-03052, filed in U.S. District Court, Middle District of Florida, Tampa Division, seeks to recover compensable damages caused by Defendant’s violations of the federal securities laws under the Securities Exchange Act of 1934. 

    According to the complaint, Defendants made false and/or misleading statements and/or failed to disclose that: 1) Webull’s mainland China operations were not limited to research and development and technical support functions, but rather Webull’s software development, data pipelines, and core engineering depended on PRCbased personnel and on infrastructure subject to Chinese law; 2) Webull’s ownership structure, technical workforce, technology infrastructure, cross-border data routing, financing, and compliance structure were structurally tied to China; 3) as a result, Webull’s representations that its principal business operations were based in the U.S. and that its U.S. customer data was insulated from non-U.S. access materially overstated the Company’s independence from the PRC; and 4) consequently, Defendants’ statements about Webull’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

    Webull Investors: Contact Kehoe Law Firm

    If you purchased Webull stock during the Class Period and suffered financial losses, you are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to learn more about the investigation and your potential legal rights.

    For a free, no-obligation legal evaluation, contact:

    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 nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, as well as ERISA and retirement plan litigation. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

    There is no cost or obligation to speak with the firm, and there are no upfront fees or litigation costs. We handle class action matters on a contingency-fee basis. Any attorneys’ fees or expenses sought in connection with a recovery are subject to court approval.

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    Kehoe Law Firm, P.C.
    2001 Market Street
    Suite 2500
    Philadelphia, PA 19103

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    Tel: 215-792-6676

    EMAIL

    [email protected]

    Target Pre-Shift Walking Time | New York Workers

    Do Target Workers in New York Have to Be Paid for Pre- and Post-Shift Walking Time?

    A recent federal court decision addresses whether New York warehouse workers must be paid for time spent walking inside an employer’s facility before clocking in and after clocking out. In Kratzert et al. v. Target Corporation, No. 1:25-cv-01171 (AMN/DJS), the U.S. District Court for the Northern District of New York held that the walking time alleged by the employees was not compensable under the New York Labor Law (NYLL).

    What Did the Target Workers Allege?

    The plaintiffs were current and former Target warehouse employees at facilities in Wilton and Amsterdam, New York. According to the court’s September 16, 2026 Memorandum-Decision and Order, the employees alleged that they were not paid for time spent walking between security checkpoints at the warehouse entrances and their assigned work areas before clocking in and after clocking out. The alleged walking time ranged from three or four minutes in each direction for certain shifts to ten or fifteen minutes in each direction per shift.

    What Did the Court Decide?

    U.S. District Judge Anne M. Nardacci granted Target’s motion to dismiss. The court concluded that New York’s Minimum Wage Order for Miscellaneous Industries and Occupations incorporates the Portal-to-Portal Act’s limitations on compensable time.

    Applying those limitations, the court held that New York law did not require Target to compensate the plaintiffs for the walking time alleged in the case. The court dismissed the plaintiffs’ claims for unpaid minimum wages and overtime wages, as well as their claims for promised wages and noncompliant wage statements. The amended complaint was dismissed with prejudice and without leave to amend.

    What Does the Decision Mean for New York Workers?

    The court also noted that it was unaware of controlling authority from the New York Court of Appeals, or any other New York state court, addressing the precise issue. As a federal district court interpreting New York law, the court was required to predict how New York’s highest court would resolve the issue.

    The ruling does not mean that every activity performed before clocking in or after clocking out is unpaid. The court distinguished the Target employees’ alleged walking time from circumstances in which employees have already begun compensable work. For example, the court discussed New York Department of Labor guidance involving employees who were required to report to management at a specified time, receive their work assignments, and then proceed to their work locations. The court explained that such circumstances involve compensable time under federal law. By contrast, the Target employees were not yet clocked in during the walking time at issue and did not allege that they were assigned or expected to be ready to perform work during that time.

    Whether other pre-shift or post-shift activities are compensable can, therefore, depend on what employees are required to do and when their compensable work activities begin and end.

    New York Workers: Contact Kehoe Law Firm

    If you work in New York and are required to perform work before clocking in, after clocking out, or during other unpaid time, you are encouraged to send us a message to learn more about your potential legal rights.

    For a free, no-obligation legal evaluation:

    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 nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and ERISA and retirement plan litigation. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

    Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.

     

     

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    Kehoe Law Firm, P.C.
    2001 Market Street
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    Tel: 215-792-6676

    EMAIL

    [email protected]

    Alphabet Securities Class Action | GOOG

    Did You Suffer Financial Losses Investing in Alphabet (GOOG)?

    A securities class action has been filed on behalf of investors who purchased or otherwise acquired Alphabet Inc. (“Alphabet” or the “Company”) (NASDAQ: GOOG) securities between May 19, 2026 and July 16, 2026, inclusive (the “Class Period”).

    The action, Stuart v. Alphabet Inc., et al., Case No. 3:26-cv-11290, was filed on October 2, 2026 in United States District Court, Northern District of California. The complaint asserts claims under the Securities Exchange Act of 1934.

    What Does the Alphabet Securities Class Action Allege?

    Throughout the Class Period, Defendants, according to the complaint, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.

    Defendants allegedly failed to disclose to investors that 1) the Gemini 3.5 Pro was delivering disappointing training results; 2) as a result, the launch of Gemini 3.5 Pro would be significantly delayed; and 3) consequently, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

    December 1, 2026 Lead Plaintiff Deadline

    Investors who purchased or otherwise acquired Alphabet securities during the Class Period have until December 1, 2026 to move the Court to seek appointment as lead plaintiff. Investors do not need to seek appointment as lead plaintiff to remain a member of the proposed class.

    Alphabet Investors: Contact Kehoe Law Firm

    If you purchased or otherwise acquired Alphabet securities during the Class Period and suffered financial losses, you are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to learn more about the class action and your legal rights.

    For a free, no-obligation legal evaluation, contact:

    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 nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and ERISA and retirement-plan litigation. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

    Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.

    SEND US A MESSAGE

    Contact Us

    ADDRESS

    Kehoe Law Firm, P.C.
    2001 Market Street
    Suite 2500
    Philadelphia, PA 19103

    PHONE

    Tel: 215-792-6676

    EMAIL

    [email protected]

    Coastal Financial Securities Class Action | CCB

    Did You Suffer Financial Losses Investing in Coastal Financial (CCB)?

    A securities class action has been filed on behalf of investors who purchased or otherwise acquired Coastal Financial Corporation (“Coastal Financial” or the “Company”) (NASDAQ: CCB) common stock between October 28, 2024 and July 29, 2026, inclusive (the “Class Period”).

    The action, Allegheny County Employees’ Retirement System v. Coastal Financial Corporation, et al., Case No. 2:26-cv-03746, was filed on October 2, 2026 in United States District Court, Western District of Washington. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

    What Does the Coastal Financial Securities Class Action Allege?

    During the Class Period, Defendants, according to the complaint, made materially false and misleading statements concerning the growth and credit quality of Coastal’s CCBX business, the adequacy of the Company’s risk management and credit monitoring practices, and the credit protections afforded by Coastal Financial’s CCBX partner indemnification agreements.

    The complaint further alleges that while praising the continued growth of CCBX and representing that such growth was being pursued in a disciplined manner with a focus on risk management and credit quality, the Coastal Financial Defendants failed to disclose that the credit quality of a substantial CCBX partner loan portfolio, comprising approximately $500 million in loans and nearly 23% of all CCBX loans, had materially deteriorated, exposing Coastal to significant losses despite the purported credit protection provided by the partner’s indemnification agreement.

    December 1, 2026 Lead Plaintiff Deadline

    Investors who purchased or otherwise acquired Anavex securities during the Class Period have until December 1, 2026 to move the Court to seek appointment as lead plaintiff. Investors do not need to seek appointment as lead plaintiff to remain a member of the proposed class.

    Coastal Financial Investors: Contact Kehoe Law Firm

    If you purchased or otherwise acquired Coastal Financial common stock during the Class Period and suffered financial losses, you are encouraged to complete Kehoe Law Firm’s confidential Stockholder Information Request Form or send us a message to learn more about the class action and your legal rights.

    For a free, no-obligation legal evaluation, contact:

    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 nationally recognized, plaintiff-side class action law firm representing investors, consumers, and employees in matters involving securities fraud, corporate misconduct, mergers and acquisitions, antitrust violations, whistleblower claims, data breaches, consumer fraud, employment law violations, and ERISA and retirement-plan litigation. Its attorneys have served as lead or co-lead counsel in major securities cases, recovering more than $10 billion for institutional and individual investors.

      Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning plaintiffs are not responsible for attorneys’ fees or litigation expenses. Any request for attorneys’ fees and expenses will be subject to court approval.

      SEND US A MESSAGE

      Contact Us

      ADDRESS

      Kehoe Law Firm, P.C.
      2001 Market Street
      Suite 2500
      Philadelphia, PA 19103

      PHONE

      Tel: 215-792-6676

      EMAIL

      [email protected]