Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Express Scripts Holding Company To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Express Scripts Holding Company (“Express Scripts” or the “Company”) (NasdaqGS:ESRX) of the July 5, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Express Scripts stock or options between February 24, 2015 and March 21, 2016 (the “Class Period”). The case, Melbourne Municipal Firefighters’ Pension Trust Fund v. Express Scripts Holding Company et al, No. 16-cv-03338 was filed on May 4, 2016.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the status of its relationship and contract with its most important client Anthem, Inc. (“Anthem”).
Specifically, on January 12, 2016, Anthem publicly threatened to terminate its relationship with the Company unless both renegotiated an agreement that would deliver more than $3 billion in annual savings to Anthem.
On this news, Express Scripts’ share price fell from a closing price of $85.58 per share on January 12, 2016 to a closing price of $79.69 on January 13, 2016—a $5.89 or a 6.9% drop.
Then, on March 21, 2016, Anthem sued Express Scripts alleging that the Company breached its contract with Anthem by failing to negotiate drug pricing terms in good faith. Anthem’s complaint revealed a conflict between Express Scripts and Anthem dating back to at least February 2015, alleging that the Company was experiencing severe operational problems that interfered with its ability to adequately serve Anthem and exposed Anthem to increased regulatory scrutiny.
On this news, Express Scripts’ share price fell from a closing price of $69.34 per share on March 21, 2016 to a closing price of $67.52 on March 22, 2016—a $1.82 or a 2.6% drop.
If you invested in Express Scripts stock or options between February 24, 2015 and March 21, 2016 and would like to discuss your legal rights, please fill out the form below or contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Express Scripts’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.