LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired McKesson Corporation (“McKesson” or the “Company”) (NYSE: MCK) securities between October 24, 2013 and January 25, 2017, inclusive (the “Class Period”). McKesson investors have until December 26, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On January 25, 2017, McKesson announced its financial and operating results for the third quarter of fiscal year 2017. McKesson advised investors that its poor 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.” On this news, McKesson’s share price fell $12.55, or nearly 8.3%, to close at $138.55 per share on January 26, 2017, thereby injuring investors.
The complaint filed in this class action alleges that the Company 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.
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If you purchased shares of McKesson during the Class Period you may move the Court no later than December 26, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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