The Securities and Exchange Commission is distributing more than $35 million to over 98,000 investors who were harmed by accounting fraud at Cardinal Health.
The SEC charged the pharmaceutical distribution company in July 2007 with engaging in a nearly four-year-long fraudulent revenue and earnings management scheme. The SEC alleged that the company presented a false picture of its operating results to the financial community and the investing public to match its earnings guidance and analyst expectations rather than its true economic performance. Cardinal Health settled the SEC charges and paid $35 million in penalties and disgorgement to the SECs Fair Fund, from which the SEC is now distributing the money to injured investors.
The Fair Fund Administrator responsible for this distribution is Gilardi & Co. Investor questions regarding the distribution may be directed to Gilardi & Co. by calling (800) 447-7657 or by writing to Claims Administrator c/o Gilardi & Co., P.O. Box 808003, Petaluma, CA 94975-8003.
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