Cardinal Health close to ending shareholder lawsuits over opioid-related losses

COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST) — A shareholder lawsuit against Cardinal Health Inc. over financial losses tied to opioid litigation is nearing its end.

A federal judge in Columbus last week approved a settlement deal that will net the Dublin healthcare distributor $83 million from its liability insurance – and pay the shareholders' attorneys $31 million.

The three lead shareholders themselves are up for $2,500 apiece, according to the settlement agreement. The case in U.S. District Court consolidated separate complaints filed in 2019 and 2020.

Shareholders have until Sept. 13 to object to the deal to the court. The investor must have owned Cardinal (NYSE:CAH) shares as of May 25 and hold onto them through the final hearing on Oct. 4.

For more of this story, go to ColumbusBusinessFirst.com.

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