Opioid Distributor To Pay $175M Settlement In Shareholder Derivative Action

Mealey's (January 27, 2020, 1:46 PM EST) -- OAKLAND, Calif. — A federal judge in California granted preliminary approval of a $175 million shareholder derivative action settlement against opioid drug distributor McKesson Corp. brought by investors who alleged that several of the company’s current and former senior officers and directors failed to conduct the necessary oversight of opioid drug sales, even after the company twice had been hit with fines for previous compliance failures, according to a press release issued by co-lead counsel on Jan. 24 (In re McKesson Corp. Derivative Litigation, No. 17-1850, N.D. Calif.)....