Franklin D. Azar & Associates, P.C. announces that a lawsuit has been filed on behalf of shareholders of Cardinal Health, Inc. (NYSE ticker: CAH). Investors who purchased CAH securities between March 2, 2015 and May 2, 2018, and are interested in learning about the case or serving as a lead plaintiff, are encouraged to visit www.fdazar.com to submit your information and learn more about the case. The lawsuit alleges that Cardinal Health violated the federal securities laws.
The lawsuit alleges that the Defendants made materially false and misleading statements and omissions relating to Cardinal’s integration of Cordis Corp. (“Cordis”), a medical device manufacturer Cardinal purchased from Johnson & Johnson (“J&J”) in March 2015, and inventory and supply chain problems at Cordis. 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, and that 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 allegedly traded at artificially inflated prices throughout the Class Period. Upon public disclosure of the misrepresentations, Cardinal’s share price fell over 21%.
If you purchased Cardinal Health securities (NYSE ticker: CAH) between March 2, 2015 and May 2, 2018 and are interested in the lead plaintiff process, please contact the Azar Law Firm’s shareholder rights team at www.fdazar.com. Investors may also contact the firm via email at firstname.lastname@example.org, or calling 844-241-9475. Interested shareholders have until September 30, 2019 to apply to be lead plaintiff. The class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Azar Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. Azar Law Firm is working with Thornton Law LLP in investigating this action. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.