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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.