On or around 09/08/2020 (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.
On June 19, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on September 8.
Company & Securities Information
Defendant: Cardinal Health, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
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.
First Identified Complaint
Louisiana Sheriffs Pension & Relief Fund, et al. v. Cardinal Health, Inc., et al.
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:
Bernstein Litowitz Berger & Grossmann LLP (New New York)
Klausner, Kaufman, Jensen & Levinson
McNees Wallace & Nurick LLC
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
Opinion and Order
1199 SEIU Health Care Employees Pension Fund, et al. v. Cardinal Health, Inc., et al.