Former McKesson Exec Cleared in Fraud Case

Former McKesson Corp. finance chief Richard Hawkins was found not guilty of fraud charges related to a 1999 restatement that sparked an $8.6-billion drop in McKesson’s stock market value.

U.S. District Judge Martin Jenkins, in a ruling issued in San Francisco, cleared Hawkins on charges of securities and wire fraud and making false statements. The trial, which was held without a jury, ended in March.

Hawkins was the first former executive at McKesson to stand trial on criminal charges stemming from an overstatement of revenue at HBO & Co., which McKesson acquired in 1999.