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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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.

On February 7, 2025, Kehoe Law Firm, P.C. filed a class action lawsuit in U.S. District Court for the Central District of California (Case No. 2:25-cv-01099) on behalf of C&M Pharmacy Inc., d/b/a Parvin’s Pharmacy and Katz Pharmacy, against GoodRx and several major pharmacy benefit managers (PBMs), including CVS Caremark, Express Scripts, MedImpact, and Navitus.

The lawsuit alleges that these entities conspired to suppress reimbursement rates and impose higher fees on independent pharmacies, threatening their financial viability.

The complaint claims that GoodRx’s “Integrated Savings Program” (“ISP”) collaborates with PBMs to artificially lower generic drug reimbursement rates and increase transaction fees, enriching GoodRx and PBMs at the expense of independent pharmacies. The ISP allegedly uses GoodRx’s pricing algorithm and real-time PBM data so the PBMs can improperly coordinate and determine generic drug prices. These actions, according to the lawsuit, violate antitrust laws by fixing prices and creating unfair competition.

“We are pleased to stand with independent pharmacies in their fight against what we believe are the predatory practices of PBMs and GoodRx,” said John Kehoe, Partner at Kehoe Law Firm. “Combating collusion in the healthcare industry is critical to ensuring fair competition and protecting the backbone of many communities—their local pharmacies.”

The Federal Trade Commission (“FTC”) has also been investigating the role of PBMs in the pharmaceutical supply chain. An interim report released in July 2024 raised concerns about PBMs’ vertical integration and market concentration, which have granted PBMs significant control over drug pricing and accessibility. The FTC found that the six largest PBMs manage nearly 95% of all U.S. prescriptions, profiting at the expense of patients and independent pharmacies.

In addition, the House Committee on Oversight and Accountability released a report in July 2024 criticizing the pricing tactics of the three largest PBMs—CVS Caremark, Express Scripts, and OptumRx. The report concluded that these PBMs have monopolized the pharmaceutical market, raising prescription drug prices, undermining community pharmacies, and harming patients nationwide.

Questions About the Antitrust Class Action Lawsuit?

To learn more about the class action lawsuit or discuss potential legal claims, please contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected], for a free, no-obligation legal evaluation.

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 August 7, 2024, a Chicago federal judge rejected the defendants’ arguments that tossing the lawsuit accusing Abbott Laboratories leaders of concealing known safety issues related to recalled infant formula was in shareholders’ “best interest.”

U.S. District Judge Sunil R. Harjani wrote that current and former directors and senior officers seemingly misunderstood the complaint and”potentially the purpose of derivative litigation more broadly.” According to Judge Harjani, the leaders had essentially argued that the case should be dismissed because going forward with the suit could uncover evidence that could harm the company in future lawsuits. But such an argument “could be made in any derivative suit,” Judge Harjani wrote.

He said tossing the suit for the suggested reason would “in effect nullify all derivative ligation because the directors could always argue that allowing shareholders to bring a derivative litigation that could uncover illicit conduct is not in the best interest of the company.”

“Defendants’ assertion is akin to an academic argument about the true value of derivative litigation, but that is certainly not grounds to dismiss this case under governing law,” Judge Harjani wrote.

In July 2023, the Southeastern Pennsylvania Transportation Authority (SEPTA) and the International Brotherhood of Teamsters Local No. 710 Pension Fund moved to consolidate related derivative cases. U.S. District Judge Manish S. Shah granted the motion, as well as their request to appoint them as co-lead plaintiffs. Kehoe Law Firm represents SEPTA in this action.

SEPTA and Local No. 710 had alleged that the directors repeatedly failed to implement and monitor a compliance and safety program related to Abbott’s infant formula, disregarded their duty to investigate red flags and remedy misconduct, and covered up safety and compliance risks related to the manufacturing and selling of the formula products. “Here, plaintiffs allege that the director defendants failed to exercise their oversight function over acritical safety compliance function which allegedly led to the death of several customers,” JudgeHarjani wrote.

The case is In re Abbott Laboratories Infant Formula Shareholder Derivative Litigation, case number 1:22-cv-05513, in the U.S. District Court for the Northern District of Illinois.