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McKesson Enjoyed 'Massive Insider Trading Binge,' Suit Says

Law360 (May 24, 2019, 4:21 PM EDT) -- A McKesson Corp. shareholder claims the drug distributor's directors benefited from a "massive insider trading binge" while participating in an industrywide conspiracy to drive up the prices of generic drugs, in a suit removed to California federal court Thursday.

Investor Jean E. Henry's derivative action heavily pulls from multidistrict litigation from state attorneys general and securities fraud class actions bringing antitrust claims against generic-drug makers who allegedly colluded to fix the pharmaceutical market.

McKesson was roped into the scrum last September, making it the first drug distributor to be linked with the alleged conspiracy by drug manufacturers like Heritage Pharmaceuticals Inc.,...

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Case Title

Subscribers Only

Case Number

Subscribers Only

Court

California Northern

Nature of Suit

160(Stockholders Suits)

Date Filed

May 23, 2019

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