Cardinal Health Settles Suit For $600M

Law360, New York (May 9, 2007, 12:00 AM EDT) -- Cardinal Health Inc. will pay $600 million to settle a massive class action lawsuit that alleged the company had misled investors by overstating earnings.

The settlement, reached on May 2 but disclosed in a filing with the U.S. Securities and Exchange Commission on Tuesday, must still be approved by the U.S. District Court for the Southern District of Ohio.

“The company has negotiated a proposed memorandum of understanding with counsel for the plaintiffs to settle these actions, including an agreement by the company to pay $600...
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