July 5 Deadline Alert: Law Offices of Howard G. Smith Reminds Investors of the Upcoming Deadline in the Class Action Lawsuit ...
June 30 2016 - 1:17PM
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 howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20160630006097/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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