GO
Loading...

Enter multiple symbols separated by commas

Cardinal Health Settles Charges Related to Overstating Results

Cardinal Health
Cardinal Health

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.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.