Case Background:
On October 25, 2018, the initial complaint in this securities class action was filed against McKesson Corporation (“McKesson” or the “Company”) and certain of McKesson‘s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons who purchased or otherwise acquired McKesson securities between October 24, 2013 through January 25, 2017, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and. prospects. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) McKesson and several of its industry peers colluded to fix the price of certain generic drugs; (2) the collusive conduct constituted a violation of federal antitrust laws; (3) consequently, McKesson’s revenues during the Class Period were, in part, the result of illegal conduct and were therefore unsustainable; (4) McKesson lacked effective internal controls over financial reporting; and (5) as a result, McKesson’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
Plaintiffs filed a consolidated amended class action complaint (the “Complaint”) on April 9, 2019. On June 10, 2019, Defendants filed a Motion to Dismiss the Complaint. The Motion to Dismiss was denied by Order dated October 30, 2019. Defendants filed an Answer to Plaintiffs Complaint on February 7, 2020. A Motion to Certify the Class was filed by the Plaintiff on November 6, 2020. The Class was Certified by Order dated April 8, 2021. Defendants filed a Motion for Partial Summary Judgment on June 7, 2021. That Motion was granted on October 21, 2021. This action is still ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.