Cardinal Health Settles Charges Related to Overstating Results
Cardinal Healthhas agreed to pay $35 million to settle charges that it engaged in nearly a four-year fraudulent revenue and earnings scheme, the U.S. Securities and Exchange Commission said on Thursday.
The SEC complaint alleges that from September 2000 to March 2004 the Ohio-based company engaged in this conduct in order to present a false picture of its operating results.
Cardinal materially overstated its operating revenue, earnings and growth trends in certain earnings releases and filings with the agency, the SEC alleged.
The company did not admit to or deny the SEC's allegations.