LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of investors of Express Scripts Holding Company (“Express Scripts” or the “Company”) (NASDAQ: ESRX) concerning the Company and its officers’ possible violations of federal securities laws. GPM is preparing a lawsuit on behalf of injured investors.
Express Scripts operates as a pharmacy benefit management (PBM) company in the United States, Canada and Europe.
On January 12, 2016, Anthem, Inc. ("Anthem") openly threatened to end its relationship with Express Scripts unless the Company conceded to renegotiating its agreement with Anthem and transfer more than $3 billion in annual savings to Anthem.
Then, on March 21, 2016, Anthem filed suit against Express Scripts, asserting that the Company violated its contract with Anthem by failing to negotiate drug pricing terms in good faith. More specifically, the lawsuit alleges that Express Scripts was experiencing serious operational problems that impaired its ability to sufficiently serve Anthem, and left Anthem vulnerable to heightened regulatory scrutiny.
Despite previous claims by Express Scripts that their relationship with Anthem was “very, very solid”, the Anthem lawsuit reveals a conflict between Express Scripts and Anthem going back to at least February 2015. On news of the alleged discord, and loss of future Anthem revenues, the Company’s shares fell sharply in value.
If you purchased Express Scripts securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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