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Case Status:    ONGOING    
On or around 08/02/2019 (Ongoing date of last review)

Filing Date: August 01, 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.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CAH
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Ohio
DOCKET #: 19-CV-03347
JUDGE: Hon. Edmund A. Sargus
DATE FILED: 08/01/2019
CLASS PERIOD START: 03/02/2015
CLASS PERIOD END: 05/02/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
    1251 Avenue of the Americas, Bernstein Litowitz Berger & Grossmann LLP (New New York), NY 10020
    (212) 554-1400 (212) 554-1448 ·
  2. Klausner, Kaufman, Jensen & Levinson
    10059 Northwest 1st Court, Klausner, Kaufman, Jensen & Levinson, FL 33324
    954.916.1202 954.916.1232 ·
  3. McNees Wallace & Nurick LLC
    21 East State Street, Suite 1700, McNees Wallace & Nurick LLC, OH 43215
    614.719.2843. ·
No Document Title Filing Date
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—Related District Court Filings Data is not available