Judge dismisses lawsuit against Wells Fargo over prescription drug costs [Yahoo! Finance]
Johnson & Johnson (JNJ)
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Source: Yahoo! Finance
A federal judge has tossed out a lawsuit against Wells Fargo from a group of former employees arguing that the bank violated its fiduciary obligations by agreeing to pay steep prices for prescription drugs. It's a victory for employers concerned they could be the next company accused of mismanaging health benefits. The four ex-employees filed suit in July accusing Wells Fargo of allowing its pharmacy benefit manager, Express Scripts, to overcharge for drugs. In addition, Wells Fargo allowed Express Scripts to retain rebates it negotiated with drugmakers instead of passing the savings along, which could have lowered drug costs for the company and its members, according to the suit. The lawsuit argues that Wells Fargo's actions violated the Employee
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JNJ
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- 1/22/25 - Beat
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Sec Filings
- 3/20/25 - Form PX14A6G
- 3/19/25 - Form 4
- 3/12/25 - Form DEFA14A
- JNJ's page on the SEC website