|Company name||Cardinal Health, Inc.|
NEW YORK, January 23, 2020 – Bragar Eagel & Squire is investigating certain officers and directors of Cardinal Health, Inc. (NYSE: CAH) following a class action complaint that was filed against Cardinal Health on August 1, 2019.
The complaint alleges that throughout the class period, defendants misled investors by stating that Cordis would benefit from Cardinal’s advanced inventory management and supply chain information technology solutions. Defendants also falsely represented that the Company properly “reserve[d] for inventory obsolescence” and that “[i]nventories presented in the consolidated balance sheets [were] net of reserves for excess and obsolete inventory.” As a result of these misrepresentations, Cardinal shares traded at artificially inflated prices throughout the Class Period.
If you are a long-term stockholder of Cardinal Health securities, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.