Shareholder Alert: Robbins LLP is Investigating the Officers and Directors of Cardinal Health, Inc. (CAH)
January 15 2020 - 5:54PM
Business Wire
Shareholder rights law firm Robbins LLP is investigating whether
certain officers and directors of Cardinal Health, Inc. (NYSE: CAH)
breached their fiduciary duties. Cardinal Health operates as an
integrated healthcare services and products company.
If you suffered a loss as a result of Cardinal Health's
misconduct, click here.
Cardinal Health, Inc. (CAH) Forced to Pay $86 Million in
Penalties
In August 2005, Cardinal Health learned in discussions with DEA
officials that it was distributing excessive amounts of
prescription opioids. Despite this knowledge, Cardinal Health
failed to take any corrective actions and the DEA suspended the
Company's controlled-substance distribution licenses. Then, in
2008, Cardinal Health paid a $34 million civil penalty for
violations of the Comprehensive Drug Abuse Prevention and Control
Act of 1970 ("CSA"). In addition to the penalty, the Company agreed
to "maintain a compliance program designed to detect and prevent
diversion of controlled substances required under the CSA and
applicable DEA regulations" and "inform [the] DEA of suspicious
orders [as required by the CSA]." However, Cardinal Health's board
took no action to ensure the efficacy of the Company's
anti-diversion program nor its compliance with the CSA and 2008
settlement, thus resulting in yet another settlement with the DEA
in 2012. This negligence persisted as the opioid crisis
exacerbated, and in 2016, Cardinal Health was forced to pay yet
another penalty of $44 million to the DEA to resolve allegations.
As a result of Cardinal Health's officers and directors'
misconduct, the Company has been forced to pay $86 million in fees
and penalties and will likely cost the Company billions more.
Cardinal Health, Inc. (CAH) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
LKandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
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Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
LKandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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