Secured a $175 million settlement as lead counsel against McKesson’s Board and officers for compliance failures tied to the opioid crisis
Plaintiff(s):
Public pension fund shareholder on behalf of McKesson Corporation
Case type / claims:
Derivative action alleging breaches of fiduciary duty and oversight failures by McKesson’s current and former officers and directors in connection with the company’s repeated violations of federal drug distribution laws. Plaintiffs alleged that despite prior government sanctions, McKesson failed to implement compliance reforms and continued to facilitate opioid distribution abuses.
Defendant(s):
McKesson Corporation’s current and former officers and directors
Jurisdiction:
U.S. District Court for the Northern District of California
Year:
2020
Outcome:
- Grant & Eisenhofer secured a $175 million settlement against defendants — one of the largest derivative settlements in history.
- Included extensive governance and compliance reforms to strengthen Board oversight of regulatory risks.
- Case underscored the fiduciary duty of directors to ensure effective monitoring and compliance in highly regulated industries.
