DEADLINE ALERT – EXPRESS SCRIPTS HOLDING COMPANY – Brower Piven Reminds Investors Of Upcoming Deadline And Encourages Sha...
June 28 2016 - 4:54PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of Express Scripts
Holding Company (Nasdaq:ESRX) (“Express Scripts” or the “Company”)
common stock during the period between February 24, 2015 to March
21, 2016, inclusive (the “Class Period”). Investors with
losses in excess of $100,000 who wish to become proactively
involved in the litigation have until July 5, 2016 to seek
appointment as lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Express Scripts common stock during
the Class Period. Members of the Class will be represented by
the lead plaintiff and counsel chosen by the lead plaintiff.
No class has yet been certified in the above action.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that its
relationship with Anthem, Inc. (“Anthem”), one of the largest
health benefits companies in the United States which
represents approximately 14% of Express Scripts’ annual revenues,
was not as strong as represented, and that it was not providing
Anthem, and all of its customers, with high quality service as
represented.
According to the complaint, following (1) the
January 12, 2016 revelation that Anthem publicly threatened to
terminate its relationship with Express Scripts unless the Company
would renegotiate its agreement with Anthem to deliver more
than $3 billion in annual savings to Anthem; (2) the
March 21, 2016 filing of a lawsuit by Anthem against Express
Scripts alleging that the Company breached its contract with Anthem
by failing to negotiate drug pricing terms in good faith and
revealing a conflict between Express Scripts and Anthem dating back
to at least February 2015, including allegations that Express
Scripts was experiencing severe operational problems that
interfered with its ability to adequately serve Anthem and exposed
Anthem to increased regulatory scrutiny; and (3) the revelation
that it was likely Anthem would either renegotiate its contract to
pay billions of dollars less to Express Scripts or seek to engage a
competing pharmacy benefit manager resulting in the Company’s
complete loss of Anthem’s business, the value of Express Scripts
shares declined significantly.
If you have suffered a loss from investment in
Express Scripts common stock purchased on or after February 24,
2015 and held through the revelation of negative information during
and/or at the end of the Class Period and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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