McKesson Price Scandal Suit Ends With $141 Million for Investors

McKesson Corp.'s $141 million class settlement of investor allegations that the drug distributor concealed a nationwide scheme to fix generic drug prices merits final approval, a federal court in California ruled in a hearing Friday.

Attorneys for both sides said they had received no objections, and no class member objected at the video proceeding in the US District Court for the Northern District of California.

In addition to accepting the settlement, Judge Charles R. Breyer also approved a 25% attorneys’ fee request, amounting to about $35.3 million. The 1.28% multiplier on a rate-and-hour cross-check is “pretty low” and reasonable considering ...