NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into BioScrip, Inc. (NASDAQ:BIOS) (“BioScrip”) to determine whether the BioScrip’s Officers and Directors have breached their fiduciary duties owed to BioScrip and its shareholders. If you are a BioScrip shareholder, you are encouraged to contact Scott+Scott for additional information.
BioScrip (NASDAQ:BIOS) provides healthcare services with a specialization in home-based medical treatments. BioScrip also sells prescription discount cards that allow cardholders to purchase prescription medications at discounted prices through its “PBM Services” segment. BioScrip formerly operated specialty pharmacies that provided medications to treat a variety of serious medical issues. BioScrip’s specialty pharmacy division sold the drug Exjade, a drug used to remove iron from a patient’s body.
On January 8, 2015, the New York Attorney General “announced that his office ha[d] filed a lawsuit alleging that Novartis Pharmaceuticals Corporation . . . paid kickbacks to [BioScrip] to boost sales of the company’s iron-reduction drug, Exjade . . .” The lawsuit alleges that “BioScrip employees made thousands of calls to Medicaid recipients in New York and other states from a central call center in Ohio encouraging them to refill Exjade prescriptions or resume taking Exjade” and “downplayed the side effects of Exjade in these calls.”
The announcement further stated that BioScrip “will pay a total of $15 million to cover costs to Medicaid and Medicare nationally for excessive Exjade prescriptions.”
What You Can Do
If you are a long term BioScrip shareholder, you may have legal claims against BioScrip Officers and Directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joseph Halloran at (800) 404-7770 or (646) 582-0121 or at or jhalloran@scott-scott.com.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide.
