The U.S. Securities and Exchange Commission willreview a dispute between Express Scripts Holding Co. and New York StateComptroller Thomas DiNapoli over his effort to force theprescription-benefits manager to increase cyber-risk disclosures.
Express Scripts told the SEC last month itwould exclude the proposal from its annual proxy statement.DiNapoli, who’s pushing for the company’s board to report itsefforts to prevent and mitigate cyber threats, objected last weekin a letter to the regulator.
“We’re at the point where everyone -- investors, directors,regulators -- is recognizing that this is a critical issue,” saidGianna McCarthy, director of corporate governance at thecomptroller’s office, which oversees about $164 million of ExpressScripts stock for the $200 billion New York State Common RetirementFund. “Investors need more disclosure.”
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