Medco Sued Over CalPERS Bribery

Law360, New York (March 18, 2011, 9:07 PM EDT) -- A California state worker hit Medco Health Solutions Inc. with a class action Friday, claiming that alleged bribes Medco gave to a former California Public Employees' Retirement System official had forced members to pay higher drug prices.

CalPERS member Michael Desrys filed the class action in the Superior Court of the State of California, County of Sacramento, amid a probe into a pay-to-play scandal between the pension fund and the prescription drug provider.

That probe has accelerated, Medco disclosed Friday. The U.S. Securities and Exchange Commission's...
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