Express Scripts Free of Securities Suit Over Anthem Fallout

Express Scripts Holding Co. investors won’t get another shot at proving the company misled them about the end of its relationship with Anthem Inc., the Second Circuit said May 7.

The pharmacy benefit management firm’s investors didn’t properly allege that Express Scripts hid the disintegration of its partnership with the insurance firm, the U.S. Court of Appeals for the Second Circuit said in a per curiam unpublished opinion.

Anthem sued Express Scripts for breach of contract in 2016 after disagreements on pricing. Express Scripts never stopped describing the relationship as “great,” “solid,” and ongoing, the investors said.

But ...