In re Bioscrip, Inc. Securities Litigation
This is a securities class action where lead plaintiffs, Fresno County Employees’ Retirement Association and West Palm Beach Police Pension Fund, allege that BioScrip, its officers, directors, and underwriters engaged in deception. The plaintiffs claim BioScrip failed to disclose a government investigation into alleged Anti-Kickback Statute and False Claims Act violations related to its specialty pharmacy division. They also allege the company concealed the rapid decline of its PBM Services segment, misleading investors. The court partially grants and partially denies the defendants' motions to dismiss, allowing claims related to the government investigation and certain PBM Services misstatements to proceed, while dismissing others.