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The government awards contracts to companies with histories of misconduct such as contract fraud and environmental, ethics, and labor violations. In the absence of a centralized federal database listing instances of misconduct, the Project On Government Oversight (POGO) is providing such data. We believe that it will lead to improved contracting decisions and public access to information about how the government spends hundreds of billions of taxpayer money each year on goods and services. Report an instance of misconduct »
Cardinal Health, Inc.
In re Cardinal Health, Inc. Securities Litigation (Securities Fraud)
Date: 04/22/2005 (Date of Filing)
Misconduct Type: Securities
Enforcement Agency: Non-Governmental
Contracting Party: None
Court Type: Civil
Synopsis: Plaintiffs, investors in Cardinal Health, Inc., filed a securities fraud action against Cardinal Health, its individual executives and Cardinal’s independent auditor, accounting firm Ernst & Young, alleging that from 1998 through 2002 the company, aided by Ernst & Young, engaged in a scheme to artificially inflate its earnings and conceal its debt. In October 2007, the court approved a settlement establishing a $600 million fund to be distributed to investors who purchased Cardinal Health stock between October 2000 and July 2004.