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McKesson (MCK) Alert: Johnson Fistel Announces Shareholder Class Action Against McKesson Corporation Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses?

November 08, 2019 | About:

PR Newswire

SAN DIEGO, Nov. 8, 2019 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of McKesson Corporation (NYSE: MCK) ("McKesson" or the "Company") against certain of its officers and directors.

Recently, a class action lawsuit pending in the United States District Court for the Northern District of California against McKesson and certain of its executives survived Defendants' attempts to have the case dismissed. The case arises out of whether McKesson and certain of its executives made materially false and misleading statements and omissions regarding the Company's financial performance and its generics business. Specifically, the class action lawsuit alleges that defendants: (1) falsely attributed generic drug price inflation to nonexistent supply disruptions; (2) falsely represented that McKesson was negotiating competitive prices for certain of its customers; (3) concealed that a generic manufacturing subsidiary of the Company was part of an overarching generic pharmaceutical price-fixing conspiracy that is the focus of federal and state investigations; and (4) failed to disclose that the Company's financial results during the period between October 23, 2013 and January 25, 2017 ("Class Period"), were positively impacted by, and heavily reliant upon, collusive profits. As a result of the forgoing, the class action alleges, McKesson stock traded at artificially inflated prices during the Class Period.

If you are a current, long-term shareholder of McKesson stock, you may have standing to hold McKesson harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If you are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.

Additionally, if you are a current, long-term holder of McKesson stock, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

[Click here to join this action]

Cision View original content:http://www.prnewswire.com/news-releases/mckesson-mck-alert-johnson-fistel-announces-shareholder-class-action-against-mckesson-corporation-survives-motion-to-dismiss-should-management-be-held-accountable-for-investors-losses-300954895.html

SOURCE Johnson Fistel, LLP


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