Cardinal Health resolves SEC investigation

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Healthcare product and service developer Cardinal Health of Dublin, Ohio, reported that it has reached a final settlement with the U.S. Securities and Exchange Commission (SEC) that concludes an investigation related to the firm’s historical financial reporting and disclosures from 2000 to 2004. In addition, the Cardinal Health said a related inquiry being conducted by the U.S. Attorney's Office for the Southern District of New York has been closed.

Under the agreement approved by the SEC, Cardinal Health will pay a civil penalty of $35 million, retain an independent consultant to review certain company policies and procedures, and be enjoined from future violations of certain provisions of the federal securities laws. The settlement covers matters that were the subject of an internal company investigation and earnings restatement in October 2004.