In Re McKesson HBOC, Inc. Securities Litigation

ORDER

(1) APPOINTING NEW YORK STATE COMMON RETIREMENT FUND AS LEAD PLAINTIFF AND APPROVING SELECTION OF LEAD COUNSEL;

(2) CONSOLIDATING JACOBS; AND

(3) SETTING A HEARING AND BRIEFING ' SCHEDULE REGARDING POSSIBLE CONSOLIDATION OF THE COHEN AND CHANG ACTIONS

Before the court are two competing motions for lead plaintiff in these consolidated securities class actions. Having considered the initial moving and responding papers, a joint submission on financial interest in the litigation, and the argument of counsel at two hearings devoted to this question, the court now appoints the New York State Common Retirement Fund as lead plaintiff, and confirms its selection of lead counsel.

I. BACKGROUND

These consolidated class actions arise from alleged financial irregularities that occurred at HBO & Company (HBOC), a predecessor corporation to defendant McKesson HBOC, Inc. HBOC had improperly characterized approximately forty million dollars in contingent transactions as sales in financial reports in 1998. HBOC then merged with McKesson to form McKesson HBOC in January 1999. In April 1999, the improper accounting practices allowed by HBOC were acknowledged in a press release. The price…