Compliance February 25, 2004

DoL Starts Express Scripts Probe

February 25, 2004 (PLANSPONSOR.com) - Prescription-benefits manager (PBM) Express Scripts Inc. is the target of a US Department of Labor (DoL) investigation over possible violations of the Employee Retirement Income Security Act (ERISA), the company said.

Reported by

Fred Schneyer

Express Scripts said in a US Securities and Exchange Commission (SEC) filing that it had received a letter from the DoL’s Kansas City, Missouri, office informing the company that the agency will kick off an investigation, the Associated Press reported.

Express Scripts said the DoL wants the company to produce documents relating to various unspecified aspects of its business. The filing provided no further information on the matter.

The St. Louis-based company said it plans to cooperate with the investigation and believes its services and business practices are in compliance with all applicable laws, rules and regulations.