Cardinal Investors Reach $124M Settlement In Opioid Suit

By Katryna Perera (May 26, 2022, 8:31 PM EDT) — Directors of Cardinal Health Inc. and the company’s investors have reached a $124 million settlement resolving claims of a shareholder derivative suit that the directors failed to protect the company from liability in the opioid crisis.

The investors filed a motion for preliminary approval of the deal in the Ohio federal court on Wednesday. According to the motion, the directors’ insurers will pay Cardinal Health the settlement sum, which represents one of the largest cash recoveries in a derivative settlement ever on behalf of an Ohio corporation.

Investor Melissa Cohen, who is named in the settlement, originally south Cardinal Health in June…

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