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McKesson Corporation (NYSE:MCK) Investor Securities Class Action Lawsuit 10/26/2018

  • If you purchased shares of McKesson Corporation (NYSE:MCK), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
McKesson Corp.
Security
NYSE: MCK

Case Name
McKesson Corp. Shareholder Class Action Lawsuit 10/26/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

October 30, 2019 - The court denied the defendants' motion to dismiss.

June 10, 2019 - A motion to dismiss the consolidated complaint was filed.

April 29, 2019 - A consolidated complaint was filed.

October 25, 2018 - An investor in shares of McKesson Corporation (NYSE:MCK) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by McKesson Corporation in connection with certain allegedly false and misleading statements made between October 24, 2013 and January 25, 2017.

On January 17, 2017, it was announced that McKesson agreed to pay a record $150 million civil penalty for alleged violations of the Controlled Substance Act.

According to the complaint the plaintiff alleges on behalf of purchasers of McKesson Corporation (NYSE:MCK) common shares between October 24, 2013 and January 25, 2017, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between October 24, 2013 and January 25, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that McKesson and several of its industry peers colluded to fix the price of certain generic drugs, that the collusive conduct constituted a violation of federal antitrust laws, that consequently, McKesson’s revenues during the Class Period were, in part, the result of illegal conduct and were therefore unsustainable, that McKesson lacked effective internal controls over financial reporting, and that as a result, McKesson’s public statements were materially false and misleading at all relevant times.