NEW YORK, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Cardinal Health, Inc. (NYSE: CAH) from March 2, 2015 through May 2, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Cardinal Health investors under the federal securities laws.

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=cardinal-health-inc&id=1972  or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2019.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. 

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements by asserting that Cordis Corp., a medical device manufacturer that Cardinal Health acquired in March 2015, would benefit from Cardinal Health’s advanced inventory management and supply chain information technology solutions. Defendants also falsely represented that Cardinal Health properly “reserve[d] for inventory obsolescence” and that “[i]nventories presented in the consolidated balance sheets [were] net of reserves for excess and obsolete inventory.” When the true details entered the market, the lawsuit claims that investors suffered damages.

A class has not been certified.  You may retain counsel of your choice.  You may take no action at this time and be an absent class member.  Your ability to obtain a recovery is not dependent upon being a lead plaintiff.  

Zhang Investor Law represents investors worldwide.  Attorney Advertising.  Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
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New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756