McKesson’s $141 Million Shareholder Settlement Heads to Judge

The pension fund leading shareholder litigation against McKesson Corp. is seeking court approval for a $141 million settlement of claims that the drug distributor kept investors in the dark about a nationwide scheme to fix generic drug prices.

The motion, filed late Wednesday by the Evanston Police Pension Fund, asks Judge Charles R. Breyer to sign off on the deal, which would resolve securities fraud claims facing McKesson in the US District Court for the Northern District of California.

The long-running investor lawsuit, like similar cases targeting other pharmaceutical wholesalers and manufacturers, stems from the price-fixing controversy that engulfed the ...