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Case History

This litigation, which was initially filed in October 2003, arises out of the earlier settlement of various securities and derivative lawsuits (collectively referred to as the “MedPartners Securities Litigation”) that were resolved in 1999. Those securities and derivative lawsuits alleged that MedPartners Inc. ("MedPartners") had made a series of false and misleading statements concerning a planned merger and concerning MedPartners’ overall financial condition.

Plaintiffs allege that, during the course of the MedPartners Securities Litigation, the Defendants misrepresented and suppressed information concerning the amount of insurance available to settle the MedPartners Securities Litigation. Plaintiffs also allege that the settlement of the MedPartners Securities Litigation would have been much higher if additional facts had been known about the excess insurance policy. Defendants deny liability and deny committing any wrongdoing in regard to the MedPartners Securities Litigation Settlement.

On August 15, 2012, the Court certified the Class pursuant to Rule 23(b)(3) of the Alabama Rules of Civil Procedure. The Court’s order was affirmed by the Supreme Court of Alabama in CVS Caremark Corp. v. Lauriello, 175 So. 3d 596 (Ala. 2014). The case was later retitled Johnson v. Caremark Rx, LLC. A trial date of May 16, 2016, was pending when the proposed Settlement was reached.  The approved the Settlement at the Fairness Hearing on August 8, 2016.   On July 2, 2018, the case name was again retitled under the current name City of Birmingham Retirement & Relief System et al. v. Caremark Rx, LLC.

To assist your further understanding of the history of this Class Action, certain key documents, in PDF format, are available by clicking on the items listed below:

Date Document
6/4/04 Plaintiffs’ First Amended Class Action Complaint
5/4/12 Plaintiffs’ Brief in Support of Motion for Class Certification
5/15/12 Defendants’ Brief in Opposition to Class Certification
5/30~6/4/12 Transcript of Class Certification Hearing in Trial Court
6/15/12 Plaintiffs’ Post-Hearing Brief in Support of Motion for Class Certification
6/15/12 Defendants’ Post-Hearing Brief in Opposition to Class Certification
8/15/12 Order Granting Class Certification
6/13/13 Brief of Defendants-Appellants - Appeal to Alabama Supreme Court
7/12/13 Brief of Plaintiffs-Appellees - Appeal to Alabama Supreme Court
8/9/13 Reply Brief of Defendants-Appellants - Appeal to Alabama Supreme Court
9/26/14 Defendants-Appellants Application for Rehearing
10/9/14 Brief of Plaintiffs-Appellees Opposing Application for Rehearing
10/16/14 Reply Brief of Defendants-Appellants on Application for Rehearing
2/27/15 Alabama Supreme Court Opinion as modified on denial of rehearing
4/24/15 Joint Motion for Approval of Class Notice
5/5/15 Order Approving Class Notice
5/14/15 Legal Notice
5/14/15 Legal Notice (Summary)

Of note, due to several corporate structure changes through the intervening years, MedPartners is now known as Caremark Rx, LLC.