Deadline Alert: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against McKesson Corporation
BENSALEM, Pa., Dec. 17, 2018 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the December 18, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased McKesson Corporation (“McKesson” or the “Company”) (NYSE: MCK ) securities between October 24, 2013 and January 25, 2017, inclusive (the “Class Period”). McKesson investors have until December 26, 2018 to file a lead plaintiff motion.
Investors suffering losses on their McKesson investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On January 25, 2017, McKesson announced its financial and operating results for the third quarter of fiscal year 2017. McKesson advised investors that its poor financial results were “a result of the generic pricing actions [McKesson] began to implement late in our second quarter,” as McKesson’s “prices were ultimately set at a lower level than our initial expectations that were included in our previous guidance.” On this news, McKesson’s share price fell $12.55, or nearly 8.3%, to close at $138.55 per share on January 26, 2017, thereby injuring investors.
The complaint filed in this class action alleges that the Company made false and/or misleading statements and/or failed to disclose that: (1) McKesson and several of its industry peers colluded to fix the price of certain generic drugs; (2) the collusive conduct constituted a violation of federal antitrust laws; (3) consequently, McKesson’s revenues during the Class Period were, in part, the result of illegal conduct and were therefore unsustainable; (4) McKesson lacked effective internal controls over financial reporting; and (5) as a result, McKesson’s public statements were materially false and misleading at all relevant times.
If you purchased shares of McKesson during the Class Period you may move the Court no later than December 26, 2018 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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