Ex-Cardinal Health Execs Settle Derivative Suits

Law360, New York (July 6, 2007, 12:00 AM EDT) -- Two months after agreeing to pay out $600 million to settle charges of securities violations, Cardinal Health Inc. said Friday it would receive $58 million stemming from the settlement of derivative suits against current and former company executives.

The current and former executives and directors settled a group of shareholder derivative suits in Ohio state courts on June 29, the massive health care company revealed in a filing with the U.S. Securities and Exchange Commission.

The defendants agreed to a memorandum of understanding stipulating that they...
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