McKesson Board Gets $175 Million Shareholder Settlement Approved

McKesson Corp. directors got final court approval Wednesday for a $175 million settlement in San Francisco federal court over investor claims that the drug distributor’s board exposed it to legal liability stemming from the nationwide opioid crisis.

Plaintiffs’ attorneys will get $43.8 million in fees—25% of the settlement fund—and $421,000 in expenses.

Approving the deal, Judge Claudia Wilken called it reasonable “in light of the excellent results that plaintiffs’ counsel achieved on behalf of the settlement class members and the risks they undertook to litigate this action on a contingency basis.”

McKesson will also strengthen its corporate governance procedures by ...