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…
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
- Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
- Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
- Create custom alerts for specific article and case topics and so much more!
TRY LAW360 FREE FOR SEVEN DAYS