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Rutledge vs. PCMA: SCOTUS Greenlights State Regulation of Pharmacy Benefit Manager Drug Reimbursement

On December 10, 2020, the Supreme Court, in a unanimous opinion, held that the Employee Retirement Income Security Act (“ERISA”) does not preempt an Arkansas law regulating pharmacy benefit manager (“PBM”) reimbursement to pharmacies. The Court’s decision provides a potential avenue for states to increase regulation of PBMs and other service providers that help administer ERISA-regulated group health plans, and therefore holds potential significance for, among others, PBMs, pharmacies, pharmaceutical manufacturers, and employers that sponsor ERISA-regulated group health plans.

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The SEC Strikes Again: Undisclosed Executive Perks & Related Person Transactions


Time to Read: 1 minutes Practices: Executive Compensation & Employee Benefits, Securities & Public Companies

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Two recent SEC enforcement actions involving executive perks and related person transactions are a reminder that disclosure deficiencies in these areas can attract SEC scrutiny. The extent to which this represents a new trend or merely the carryover of investigations started under the prior leadership remains to be seen, but the recent activities warrant renewed attention to these matters.

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