STAT Plus: McKesson reaches $175 million deal with shareholders over lax oversight of opioid shipments
As pressure mounts on pharmaceutical wholesalers over their role in the opioid crisis, McKesson (MCK) agreed to pay $175 million to settle a lawsuit filed by investors who claimed the big distributor failed to properly oversee suspicious shipments of the addictive painkillers.
Besides the payout, McKesson also agreed to take several steps to bolster corporate governance, including separating the roles of the chairman and chief executive officer, creating term limits for board members, reforming the board compliance committee, generating board reports concerning complaints about compliance issues, and toughening clawback policies for executives who fail to perform properly, according to the stipulation agreement.
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