Cardinal Health (CAH) Investors $109M Settlement
Cardinal Health (CAH) agreed to settle $109 million with Investors.
The action arose from the Company & its Leaders' alleged misrepresentations and omissions concerning Cardinal's integration of Cordis Corp. in 2015, a medical device manufacturer that Cardinal had purchased from Johnson & Johnson. There were also inventory and supply chain problems at Cordis.
The Complaint alleged that the Company & its Leaders misled investors by stating that Cordis would benefit from Cardinal's advanced inventory management and supply chain information technology solutions. Additionally, they falsely represented that the Company properly "reserve[d] for inventory obsolescence" and that "[i]nventories presented in the consolidated balance sheets [were] net of reserves for excess and obsolete inventory."
As a result of these misrepresentations, Cardinal's shares allegedly traded at artificially inflated prices.
Frequently Asked Questions
All persons who purchased or otherwise acquired Cardinal Health, Inc. common stock between March 2, 2015 and May 2, 2018, inclusive, and were allegedly damaged thereby.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
1. Prepare documents for your payout
2. Audit the claim and make sure you get the maximum possible payout
3. File a claim with the settlement administration
4. Correspond with the settlement administration to resolve emerging issues
5. Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.