SEC fines CVS Caremark $20 million for misleading investors in 2009; bars accountant for a year

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Drugstore giant CVS Caremark Corp. has agreed to pay $20 million to settle charges brought by federal securities regulators that it misled investors in 2009 and committed accounting violations.

The Securities and Exchange Commission also barred CVS’s controller in charge of an earnings overstatement that year from serving as an accountant at a publicly traded company for at least a year.

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