Cardinal Records $25 Mil. Reserve For Potential SEC Settlement
This article was originally published in The Pink Sheet Daily
The wholesaler has entered into settlement negotiations with the SEC related to an investigation of revenue bookings from vitamin price-fixing litigation.
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Cardinal's audit committee has identified employees responsible for accounting practices that are being investigated by the Securities & Exchange Commission and the New York U.S. Attorney's Office
The New York U.S. Attorney has intervened in the ongoing investigations into Cardinal's accounting practices originally initiated by the Securities & Exchange Commission
A Securities & Exchange Commission investigation into Cardinal's accounting practices began in October. The wholesaler is conducting an independent review.