McKesson Corp.

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SETTLED

McKesson Corp.

FILING DEADLINES:

05/10/2023

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CASE NUMBER:

18-cv-06525

CLASS PERIOD:

October 24, 2013 — October 27, 2016

TOTAL SETTLEMENT FUND:

$141,000,000.00

  • icon-settling-defendants

    SETTLING DEFENDANTS

    McKesson Corporation, James Beer, John H. Hammergren

  • icon-eligible-class

    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.

  • icon-eligible-instruments

    ELIGIBLE INSTRUMENTS

    McKesson Corp. common stock.

  • icon-allegations

    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.

  • icon-case-summary

    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 Updates

October 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.

  • icon-company-profile

    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.

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