The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of investors who purchased Cardinal Health, Inc. (NYSE: CAH) securities between March 2, 2015 and May 2, 2018.
According to the Cardinal Health lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: 1) following Cardinal's acquisition of Cordis, the RFID [radio-frequency identification] inventory tracking technology and advanced supply chain solutions that Defendants told investors the Company would to use to improve Cordis’s performance were never implemented across Cordis; 2) Cordis’s antiquated and ineffective global supply chain was causing operational and inventory problems at Cordis; 3) as a result, Cordis manufactured and accumulated excessive amounts of cardiovascular product inventories, which sat on the shelf and became unsellable and/or expired; 4) the Company materially overstated Cordis’s inventory balances; 5) Cordis was not “performing well” and its integration was not “on track,” “going incredibly well” or “largely on plan"; and 6) to correct Cordis’s deficiencies, the Company would have to make substantial investments in Cordis’s IT and supporting infrastructure, thereby incurring significant Selling, General and Administrative Expenses charges beyond the levels internally budgeted or projected by Cardinal and diminishing operating earnings.
If you suffered a loss in Cardinal Health you have until September 30, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
To receive more information, please fill out the form.