A class action lawsuit which was filed in the United States District Court for the Southern District of Ohio, Eastern Division, on behalf of certain persons who were participants in and beneficiaries of Cardinal’s 401(k) defined contribution retirement plan (currently known as the Cardinal 401(k) Savings Plan), alleges that Cardinal and other plan fiduciaries concealed from Plan participants important information concerning Cardinal Health’s true financial and operating condition and whether Cardinal Health common stock was a prudent and suitable retirement investment for the Plan.
Plaintiffs have also filed a motion to certify the case as a class action. The motion asks the Court to certify the case as a class action on behalf of the Plan, and on behalf of all participants in the Plan for whose individual accounts the Plan purchased and/or held shares of the Employer Common Stock Fund (a fund consisting primarily of common stock of Cardinal Health, Inc.) at any time from October 24, 2000 to July 2, 2004.
The Court has substantially denied a motion to dismiss which was brought on by Cardinal and other defendants. The parties are presently engaged in discovery and the case is moving forward on the merits of the case.