April 4, 2023. The Parties agreed to and the Court approved a $109 million settlement in a class action securities litigation brought against Cardinal Health. Plaintiffs alleged that Cardinal failed to disclose inventory and supply chain issues at Cordis Corp., an operating unit the company acquired. Professor Steven Feinstein of Babson College and Crowninshield Financial Research, Inc. conducted research and provided expert testimony establishing that Cardinal stock traded in an efficient market, and that damages could be computed for all class members using a common methodology. Professor Feinstein also rebutted Defendants’ contention that the alleged misrepresentations and omissions did not impact the stock price.
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