BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming July 5, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased Express Scripts Holding Company (“Express Scripts” or the “Company”) (NASDAQ: ESRX) securities between February 24, 2015 and March 21, 2016, inclusive (the “Class Period”). Express Scripts investors have until July 5, 2016 to file a lead plaintiff motion.
According to the lawsuit, Express Scripts throughout the Class Period repeatedly assured investors that its relationship with Anthem remained strong and that it was providing Anthem and all of its customers with high quality services. Express Scripts also touted that its finances and operations were performing at a high level. Additionally, Express Scripts addressed its ongoing drug pricing negotiations with Anthem and its commitment to reaching a mutually beneficial agreement and continuing its successful working relationship with Anthem. The lawsuit claims that when the true fact entered the market, the value of Express Scripts shares fell, damaging investors.
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 shares during the Class Period, you may move the Court no later than July 5, 2016 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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