In a complete reversal from a preliminary ruling last November, U.S. District Court Judge Ronald M. Whyte appointed the New York State pension system -- not the previously favored New York City pension system -- lead plaintiff in a $3 billion securities fraud litigation involving McKesson HBOC Inc. More than 53 class action lawsuits and a dozen applications to become lead plaintiff were filed after McKesson HBOC stock plummeted by 48 percent on April 28.
December 30, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The New York State pension system has been appointed lead plaintiff in the $3 billion securities fraud litigation involving McKesson HBOC Inc.
The appointment is likely to result in legal work running into millions of dollars for the State’s lawyers at Bernstein Litowitz Berger & Grossman in New York City and Barrack, Rodos & Bacine in Philadelphia.
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