McKesson HBOC (MCK) Message Board

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Biotech / Medical : McKesson HBOC (MCK)

MCK 840.68

+0.7%

2:31 PM EST

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To: zebraspot who wrote (81)	5/24/1999 2:06:00 AM
From: Dale Stempson	Read Replies (1) of 165

"Lawsuits rain down on McKesson" Interesting MCK article in the SF Examiner: snip >>> At least one research firm, though, flagged problems at HBOC well before the merger. The Center for Financial Research & Analysis Inc. in Rockville, Md., warned investors in 1998 and 1997 that HBOC was using a legal but risky accounting method of posting cash receipts from customers before HBOC actually got paid. "They were booking revenue on software sales when they hadn't collected the cash yet," said Christopher Teeters, the center's analyst who followed HBOC. "And they were getting more and more aggressive at it." <<< snip >>> For sure, the legal storm will take months or years to resolve, securities lawyers predicted. The class-action suits -- more than 30 at last count -- will be combined this summer into one or two cases in U.S. District Court in Northern California. "This may be one of the more serious securities cases to come down the pike in quite a while," said Steve Sidener, an attorney at Gold, Bennett & Cera in San Francisco who also has sued McKesson. "We're watching it closely." <<< Complete article at: sfchronicle.com Regards - Dale

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