Federman & Sherwood Announces Investigation into Claims that CVS Has Lied to Oklahomans About Their Prescriptions

Rhea-AI Summary

Federman & Sherwood has launched an investigation into allegations that CVS Caremark misled Oklahoma residents concerning prescription policies. Reports indicate that CVS informed customers that it could only fill 30-day prescriptions due to state law, and that its mail-order pharmacy could not operate in Oklahoma. However, state lawmakers claim these statements are false. Following a settlement with the Oklahoma Insurance Commissioner, CVS was required to clarify that long-term prescription refills were not outlawed, but instead, CVS's communications allegedly spread further misinformation.

Positive

• None.

Negative

• Allegations of misleading communications regarding prescription policies, which could damage CVS's reputation.
• Potential legal scrutiny and further investigations into CVS Caremark's practices in Oklahoma due to misinformation.

OKLAHOMA CITY--(BUSINESS WIRE)-- Federman & Sherwood announces investigation into claims that CVS has lied to Oklahomans about their prescriptions. Yesterday, the Oklahoman reported that Oklahoma’s lawmakers said CVS Caremark (the largest Pharmacy Benefit Managers operating in Oklahoma) sent letters to Oklahoma customers saying Caremark can only fill 30-day prescriptions under Oklahoma law and its mail order pharmacy could not operate in the state. The legislature said these letters were misleading and untrue.

As part of a settlement with the Oklahoma Insurance Commissioner, CVS Caremark was to write to its customers and explain the State of Oklahoma had not outlawed long-term prescription refills as CVS had previously told them. Insurance Commissioner Glen Mulready said the company, rather than clarify, just spread more misinformation with its latest round of correspondence.

If you received a letter and want to discuss this action, please contact:

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425006142/en/

Tiffany Peintner

FEDERMAN & SHERWOOD

Email to: trp@federmanlaw.com

Or, visit the firm’s website at www.federmanlaw.com

Source: Federman & Sherwood

FAQ

What are the claims against CVS in Oklahoma?

CVS is accused of misleading customers about the legality of filling long-term prescriptions.

How did CVS misinform Oklahomans about prescriptions?

CVS told customers that they could only fill 30-day prescriptions, which lawmakers claim is untrue.

What was the response from Oklahoma lawmakers regarding CVS's statements?

Lawmakers stated that CVS's communications were misleading and not in accordance with state law.

What action was taken by the Oklahoma Insurance Commissioner against CVS?

CVS was supposed to clarify that long-term prescription refills were not outlawed but allegedly failed to do so.

What could be the impact of this investigation on CVS's stock?

Potential reputational damage and legal implications could adversely affect CVS's stock performance.