SETTLED
McKesson Corp.
FILING DEADLINES:
05/10/2023
CASE NUMBER:
18-cv-06525
CLASS PERIOD:
October 24, 2013 — October 27, 2016
TOTAL SETTLEMENT FUND:
$141,000,000.00
SETTLING DEFENDANTS
McKesson Corporation, James Beer, John H. Hammergren
ELIGIBLE CLASS
All persons and entities who purchased or otherwise acquired the publicly traded securities of McKesson Corp. between October 24, 2013 and October 27, 2016.
ELIGIBLE INSTRUMENTS
McKesson Corp. common stock.
Preliminary Allegations
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) McKesson and several of its industry peers colluded to fix the price of certain generic drugs; (ii) the collusive conduct constituted a violation of federal antitrust laws; (iii) consequently, McKesson’s revenues during the Class Period were, in part, the result of illegal conduct and were therefore unsustainable; (iv) McKesson lacked effective internal controls over financial reporting; and (v) as a result, McKesson’s public statements were materially false and misleading at all relevant times.
Case Summary
Class action on behalf of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of McKesson Corp. between October 24, 2013 and October 27, 2016, pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Case UpdatesOctober 23, 2013 Press Release “McKesson Announces Agreement to Purchase Celesio to Create Leading Global Healthcare Services Platform” May 12, 2015 Press Release “McKesson Reports Fiscal 2015 Fourth-Quarter and Full-Year Results” July 29, 2015 News: McKesson hosted its FY 1Q16 earning and announced “weaker than expected drug pricing trends in the quarter”. January 11, 2016 News: “Why Shares in McKesson Slumped 10% Today” Investor concerns over narrowing margin led to the drug distributor’s shares falling today. October 28, 2016 News: “McKesson stock plunges 25% on drug price scrutiny” McKesson Corp.’s stock price plummeted Friday morning after it reported that slowing price increases for pharmaceuticals are cutting into its bottom line. |
Next Steps#Investors who purchased the #stock from October 24, 2013 through October 27, 2016, should contact Battea Class Action Services today. |
BRIEF COMPANY PROFILE
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.