McKesson, Stockholders Reach $175M Deal In Opioid Suit

Law360 (January 23, 2020, 9:30 PM EST) -- Stockholders suing pharmaceutical distributor McKesson Corp. told a Delaware Chancery Court judge Thursday they had reached a $175 million settlement to resolve claims the company’s board failed in its oversight of opioid sales even after incurring millions in fines for previous compliance failures.

The stockholders sent a letter to Chancery Court Judge Sam Glasscock III, saying they had submitted the deal to a California federal court for preliminary approval, with a hearing on final approval set for April 21. The deal would cover all the parties to both the Delaware and California suits, the stockholders said.

It’s not yet clear whether...

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