Recent Security Class Actions

McKesson Corporation Common Stock (NYSE: MCK)

Company Name:McKesson Corporation Common Stock
Stock Symbol:NYSE: MCK
Class Period Start:10/24/2013
Class Period End (inclusive):01/25/2017
Filing Deadline:12/26/2018

Plaintiff's law firm issued a press release on October 25, 2018, announcing the filing of the lawsuit. According to the press release, McKesson delivers pharmaceutical and medical products and business services to retail pharmacies and institutional healthcare providers such as hospitals and health systems throughout North America and internationally. The majority of its income is derived from its business as a pharmaceutical wholesaler in which it purchases drugs in bulk directly from manufacturers and then sells and distributes those drugs to pharmacy networks, hospitals, and independent pharmacies.

According to the Complaint, throughout the Class Period, 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.