In re CVS Health Corporation Securities Litigation

Syllabus

The plaintiffs, the City of Warren Police and Fire Retirement System and David Freundlich, appealed from a Superior Court judgment granting the defendants, CVS Health Corporation and various directors and officers of CVS's motion to dismiss. The plaintiffs contended that the Superior Court erred in concluding that the plaintiffs' complaint was barred by the doctrine of collateral estoppel. The defendants conceded that the Superior Court improperly dismissed the complaint based on collateral estoppel but argued that the plaintiffs waived an appeal of the other grounds upon which the Superior Court relied in its order. The Supreme Court held that the Superior Court erred in using collateral estoppel as support for its order, but the Court determined that the plaintiffs waived their right to appeal the Superior Court's order by failing to address the Superior Court's other conclusions in their brief in this Court. The Supreme Court affirmed the judgment of the Superior Court.