McKesson HBOC Securities Litigation

Gwyn Donna Quillen

Practice Area:Securities / Investment Fraud

Outcome:Settlement

Description:This securities class action was filed in 1999 after McKesson HBOC announced a restatement of HBOC's financial statements due primarily to revenue recognition issues. Andersen was HBOC's outside auditor. A number of lawsuits were filed in various state courts, and a securities class action was filed in the US District Court for the Northern District of California. The last of these cases was settled in 2007.