An insurer wants to determine whether it has coverage obligations in lawsuits involving a retirement plan at Cardinal Health Inc., the drug and medical supply distributor said in a Tuesday filing with the Securities and Exchange Commission.
Federal Insurance Co. has filed a complaint against Cardinal Health in Franklin County Common Pleas Court, Cardinal said.
At least 15 complaints alleging Cardinal Health failed to disclose the risks of investing in its 401(k) plan have been filed in U.S. District Court since July 2, 2004, according to the SEC filing.
The insurer, which filed its complaint Oct. 12, has asked the court whether it has any obligations in the complaints under the liability coverage it provides for Cardinal executives, the filing said.
Cardinal Health, based in this Columbus suburb, is one of the nation’s largest wholesale drug distributors.
Cardinal shares fell 14 cents to close at $64.04 Tuesday on the New York Stock Exchange.
Was this article valuable?
Here are more articles you may enjoy.
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
Bayer’s Supreme Court Win in Roundup Case No ‘Silver Bullet’ 
