Recent Security Class Actions

Cardinal Health Inc. Common Stock (NYSE: CAH)

Company Name:Cardinal Health Inc. Common Stock
Stock Symbol:NYSE: CAH
Class Period Start:03/02/2015
Class Period End (inclusive):05/02/2018
Filing Deadline:09/30/2019

According to the Complaint, Cardinal Health, Inc. is a global, integrated healthcare services and products company.

This action arises from Defendants' alleged misrepresentations and omissions relating to Cardinal's integration of Cordis Corp., a medical device manufacturer Cardinal purchased from Johnson & Johnson in March 2015, and the inventory and supply chain problems at Cordis.

The Complaint alleges that, throughout the Class Period, Defendants misled investors by stating that Cordis would benefit from Cardinal's advanced inventory management and supply chain information technology solutions, and that Defendants also 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 shares allegedly traded at artificially inflated prices throughout the Class Period.