WELCOME TO THE CARDINAL HEALTH SECURITIES SETTLEMENT WEBSITE
This website has been established to provide general information related to the pendency and proposed Settlement of the following class action lawsuit referred to as Louisiana Sheriff’s Pension & Relief Fund v. Cardinal Health, Inc., et al., Case No. 2:19-cv-03347 (the “Litigation”), and pending before the Honorable Edmund A. Sargus, Jr. in the United States DIstrict Court for the Southern District of Ohio (Eastern Division) (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation aof Settlement dated March 31, 2023 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.
The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Settlement Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.
WHAT IS THIS LAWSUIT ABOUT?
The Litigation was brought by Lead Plaintiff 1199SEIU Health Care Employees Pension Fund ("Lead Plaintiff"), on behalf of all Persons who purchased or otherwise acquired Cardinal Health, Inc. ("Cardinal Health" or the "Company") common stock between March 2, 2015 and May 2, 2018, inclusive, and who were allegedly damaged thereby, against Cardinal Health and Individual Defendants George S. Barrett, Donald M. Casey, Jr., Michael C. Kaufmann, Jorge M. Gomez, and David J. Wilson (collectively, "Defendants") for alleged violations of Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder. Lead Plaintiff further alleges violations of Section 20(a) of the Exchange Act against the Individual Defendants and violations of Section 20A of the Exchange Act against Defendant Barrett.
Lead Plaintiff alleges that, during the Class Period, Defendants made materially false and misleading statements and omissions concerning Cardinal Health’s acquisition and integration of Cordis Corporation, a medical device manufacturer purchased from Johnson & Johnson.
If you purchased or otherwise acquired Cardinal Health common stock between March 2, 2015 and May 2, 2018, inclusive, and were damaged thereby, you are a Settlement Class Member. Excluded from the Settlement Class are: (i) the Defendants; (ii) the current and Class Period officers and directors of Cardinal Health; (iii) the Immediate Family Members of the Individual Defendants; and (iv) the legal representatives, affiliates, heirs, successors-in-interest or assigns of any such excluded party and any entity in which such excluded persons have or had a controlling interest. Also excluded from the Settlement Class is any Person who would otherwise be a Member of the Settlement Class but who validly and timely requests exclusion by submitting a request for exclusion in accordance with the requirements set forth in the Notice of Pendency and Proposed Settlement of Class Action ("Notice").
WHAT DOES THE SETTLEMENT PROVIDE?
The proposed Settlement will create a cash settlement fund of $109,000,000 in cash. The Settlement provides that, in exchange for the release of the Released Plaintiffs’ Claims and dismissal of the Litigation, Cardinal Health will cause its insurers to pay $109,000,000 in cash to be distributed after Taxes, Tax Expenses, Notice and Administration Expenses, and Court-approved attorneys’ fees and expenses, pro rata, to Settlement Class Members who send in a valid Proof of Claim form pursuant to the Court-approved Plan of Allocation which is described in further detail in the Notice.
ADDITIONAL INFORMATION
Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. We recommend you read the Notice and other relevant case documents carefully.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
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SUBMIT A PROOF OF CLAIM FORM
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The only way to be eligible to receive a payment from the Settlement. Proof of Claim forms must be postmarked or submitted online on or before July 24, 2023.
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EXCLUDE YOURSELF
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Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties (as defined in the Notice) about the legal claims being resolved by this Settlement. Should you elect to exclude yourself from the Settlement Class you should understand that Defendants and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be received on or before August 21, 2023.
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OBJECT
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Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses. You will still be a Member of the Settlement Class. Objections must be received by the Court and counsel on or before August 21, 2023. If you submit a written objection, you may (but do not have to) attend the hearing.
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GO TO THE SETTLEMENT HEARING ON SEPTEMBER 11, 2023
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Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before August 21, 2023.
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DO NOTHING
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Receive no payment. You will, however, still be a Member of the Settlement Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Party about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.
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IMPORTANT DATES AND DEADLINES
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Submit Proof of Claim
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July 24, 2023
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Request Exclusion
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August 21, 2023
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Submit Written Objection
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August 21, 2023
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Submit Notice of Intent to Appear
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August 21, 2023
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Settlement Hearing
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September 11, 2023, at 2:00 P.M. EST
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