McKesson Settles Derivative Suit For $30M

Law360, New York (December 22, 2005, 12:00 AM EST) -- Health care services provider McKesson Corp. has agreed to a $30 million settlement in the derivative action suit filed against the company in the wake of a 1999 financial restatement that exposed executives’ massive scheme to “cook the books.”

McKesson’s insurers will pay the $30 million in return for the company dropping all claims against current and former employees.

The derivative suit stemmed from a class action lawsuit brought by shareholders that alleged the executives had breached fiduciary duty and made false statements regarding the company’s...
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