On or around 10/30/2019 (Date of last review)
Filing Date: October 25, 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.
On February 8, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on April 9, 2019. Defendants filed a Motion to Dismiss the consolidated Complaint on June 10. On October 30, the Court issued an Order denying Defendants' Motion to Dismiss.
Company & Securities Information
Defendant: McKesson Corporation
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: MCK
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Evanston Police Pension Fund, et al. v. McKesson Corporation, et al.
COURT: N.D. California
DOCKET #: 18-CV-06525
JUDGE: Hon. Charles R. Breyer
DATE FILED: 10/25/2018
CLASS PERIOD START: 10/24/2013
CLASS PERIOD END: 01/25/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bleichmar Fonti & Auld LLP
First Identified Complaint (FIC) Filings:
Class Action Complaint
U.S. District Court Civil Docket
Pension Trust Fund for Operating Engineers, et al. v. McKesson Corporation, et al.