Settlement of the derivative action brought by G&E on behalf McKesson Corporation shareholders against the company’s current and former officers and directors has been approved in the U.S. District Court, Northern District of California. The $175 million settlement amounts to one of the largest derivative case settlements in history. In addition to the monetary recovery, the settlement provides for governance reforms designed to improve Board oversight and fix compliance failures at McKesson.
In 2017, G&E filed In re McKesson Corp Stockholder Derivative Litigation on behalf of the Police & Fire Retirement System of the City of Detroit. The action filed in the Delaware Court of Chancery was stayed. The action in the Northern District of California remained in discovery while mediation was ongoing.