Office & Professional Employees International Union, Local 153, filed...

Office & Professional Employees International Union, Local 153, filed a class-action lawsuit against McKesson HBOC April 29, one day after the company’s stock fell almost 50% following the disclosure that the company would have to restate its fiscal 1999 earnings. The New York-based union fund, which has $200 million in assets, filed the suit in the U.S. District Court for the Northern District of California on behalf of those who purchased McKesson common stock between July 28, 1998, and April 28, 1999. Christopher Lometti, a partner in Schoengold & Sporn, the law firm representing the union, said that it is important to file lawsuits quickly under the new securities law because it allows only 60 days from the time the first suit is filed for anyone else to file a suit asking to be lead plaintiff.