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CVS to pay $20M to settle SEC charges


(Reuters) — CVS Caremark Corp. agreed to pay $20 million to settle U.S. Securities and Exchange Commission charges that it misled investors about significant financial setbacks and used improper accounting to artificially boost its results.

The Woonsocket, R.I.-based company did not admit or deny wrongdoing in agreeing to settle.

CVS operates the second-largest U.S. drugstore chain.