<ul><li>A federal judge has dismissed a lawsuit against Wells Fargo brought by former employees who claimed the bank violated its fiduciary obligations by overpaying for prescription drugs.</li><li>The ex-employees accused Wells Fargo of allowing its pharmacy benefit manager, Express Scripts, to overcharge for drugs and retain negotiated rebates, resulting in higher drug costs for the company and its members.</li><li>The lawsuit alleged that Wells Fargo's actions violated the Employee Retirement Income Security Act (ERISA), but the judge ruled that the workers failed to demonstrate concrete harm and lacked standing to bring the case.</li><li>The dismissal of the lawsuit is seen as a victory for employers concerned about similar claims related to mismanaging health benefits and indicates the potential challenges for future copycat suits against employers.</li></ul>

Judge dismisses lawsuit against Wells Fargo over prescription drug costs

Discover more