A federal judge on Tuesday threw out a lawsuit brought against Express Scripts claiming the St. Louis County-based pharmacy benefits manager inflated its share price by hiding its worsening relationship with Anthem, its biggest client.
The judge, who dismissed an earlier version of the lawsuit last August, said the shareholders who brought the suit failed to support the claim that Express Scripts intentionally misled them. Unlike a year ago, the judge did not give shareholders permission to file a new version of the suit.
The suit stemmed from Express Scripts’ announcement in April 2017 that Anthem was unlikely to renew its contract when it expired in 2019. The shareholders accused Express Scripts of hiding the details of that deteriorating relationship for more than a year.
Read more: St. Louis Post-Dispatch