McKesson Securities Lawsuit Over Generic Drugs Gets Class Status

McKesson Corp. and several former company leaders must face a certified securities fraud class action over allegations that they kept shareholders in the dark about an industrywide scheme to fix the prices of generic drugs, a federal judge in San Francisco ruled.

Judge Charles R. Breyer gave the case class status Thursday, about a year and a half after he let it advance in the U.S. District Court for the Northern District of California with claims that McKesson, one of the “big three” U.S. drug distributors, lied about the source and sustainability of its success.

Breyer rejected the company’s efforts ...