NEW YORK, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cardinal Health, Inc. (“Cardinal Health” or the “Company”) (NASDAQ: CAH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Cardinal Health securities between March 2, 2015 and May 2, 2018, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/cah.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements by stating that Cordis Corp., a medical device manufacturer that Cardinal Health acquired in March 2015, would benefit from its advanced inventory management and supply chain information technology solutions. The complaint also alleges that Defendants misleadingly 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.”
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/cah or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Cardinal Health you have until September 30, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
