Lead Plaintiff, Thomas P. DiNapoli, Comptroller of the State of New York, as Administrative Head of the New York State and Local Retirement Systems and as Trustee of the New York State Common Retirement Fund, achieved recoveries from defendants in the McKesson HBOC securities class action litigation (the “Litigation”) totaling in excess of $1.05 billion plus interest for the benefit of the Settlement Class. Pursuant to Orders of the Court approving the settlements achieved, the Litigation was resolved.
One of the settlements achieved (in 2006) was with defendant Arthur Andersen LLP (“Andersen”), HBO & Company’s outside auditor, for a cash payment of $72.5 million, as well as the possibility of certain contingent payments described in paragraph 2 below (the “Contingent Payment Claim”).
On November 28, 2012, Lead Plaintiff and defendant Andersen entered into a supplemental settlement settling and releasing the Contingent Payment Claim in return for the immediate payment by Andersen of an additional $9.5 million in cash (the “Settlement”).
This supplemental settlement was approved by the Court on February 8, 2013.
On October 21, 2013, Fourth Distribution checks, which included the proceeds of the supplemental settlement with Andersen, were mailed to Authorized Claimants who cashed their previous distribution check and whose pro rata share of the Fourth Distribution was at least $10.