McKesson Corporation

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Case Summary
Company Name: McKesson Corporation
Stock Symbol : NYSE: MCK
Class Period Start: 10/24/2013
Class Period End: 01/25/2018
Lead Plaintiff motion: 12/26/2018
Date Filed: 10/25/2018
Type of Case: Securities Class Action
Court: U.S. District Court for the Northern District of California
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the December 26, 2018 lead plaintiff deadline in a class action lawsuit filed against McKesson Corporation (NYSE: MCK) (“McKesson” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased McKesson Corporation securities between October 24, 2013 and January 25, 2017, have until December 26, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased McKesson Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that McKesson and several of its industry peers colluded to fix the price of certain generic drugs; the collusive conduct constituted a violation of federal antitrust laws; consequently, McKesson’s revenues during the Class Period were, in part, the result of illegal conduct and were therefore unsustainable; McKesson lacked effective internal controls over financial reporting.

On January 25, 2017, the Company reported an Adjusted Earnings per diluted share of $3.05, down 4% from the same period in the prior year, and further reported lower-than-expected North American Pharmaceutical Distribution and Services business unit revenue of $41.7 billion.  The Company informed investors that its disappointing financial results were “a result of the generic pricing actions [McKesson] began to implement late in our second quarter,” as McKesson’s “prices were ultimately set at a lower level than our initial expectations that were included in our previous guidance.”

Following this news, NYSE: MCK fell $12.55 per share, or roughly 8.3%, to close at $138.55 per share on January 26, 2017.

If you were negatively impacted by your investment in McKesson Corporation securities between October 24, 2013 and January 25, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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