McKesson Settles Derivative Suit Over DOJ Fine For $175M
By Dean Seal (April 22, 2020, 2:21 PM EDT) -- McKesson Corp. directors will pay $175 million to resolve a derivative action accusing the pharmaceutical distributor's board of failing to enforce a compliance program to catch suspicious orders of opioids, leading to a hefty fine from the U.S. Department of Justice, under a deal approved Wednesday.
The deal approved by a California federal judge provides a cash settlement to the company and calls for significant corporate governance reforms aimed at preventing the recurrence of compliance failures like the ones that led to the suit in the first place.
"The court … finds that the settlement is, in all respects, fair, reasonable,...
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