Ex-Cardinal Health Officers Settle SEC Fraud Charge

Law360, New York (May 27, 2009, 12:00 AM EDT) -- Three former Cardinal Health directors negotiated a speedy settlement with the U.S. Securities and Exchange Commission over securities fraud charges filed Wednesday stemming from an alleged high-level scheme to misclassify more than $5 billion of the pharmaceutical company's revenue.

The SEC filed a civil securities fraud complaint Wednesday against former Cardinal Health Chief Financial Officer Richard J. Miller, former Controller and Principal Accounting Officer Gary S. Jensen, and former pharmaceutical product division Senior Vice President of Finance Michael E. Beaulieu.

Shortly afterward, the agency announced it...
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