SEC Charges CVS With Misleading Investors Through Materially Misleading Disclosures and Use of Improper Accounting
On April 8, 2014, the Securities and Exchange Commission charged CVS Caremark Corp. with violating the federal securities laws by failing to accurately disclose significant financial setbacks and overstating its financial performance through improper accounting. The charges brought by the SEC serve as an important reminder of some basic, yet crucial, disclosure principles.