Cardinal Health Settles With SEC For $35 Million

Law360, New York (July 26, 2007, 12:00 AM EDT) -- Two months after agreeing to settle shareholder suits over its alleged securities violations for $600 million, Cardinal Health Inc. will be footing an additional $35 million payout to the U.S. Securities and Exchange Commission.

The SEC said that Cardinal Health engaged in a scheme to overstate its operating revenue and earnings from September 2000 through March 2004. The scheme allowed Cardinal to present a false picture of its operating results to the financial community and the investing public.

Cardinal managed its reported earnings by selectively accelerating...
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