Cardinal Health Opioid Derivative Suit Ends With Settlement Nod

Cardinal Health Inc. and more than a dozen of its directors have gotten final court approval of a $124 million settlement to resolve shareholders’ derivative claims related to its distribution of opioids.

The deal is fair, reasonable, and adequate, Judge Sarah D. Morrison said Oct. 7 for the US District Court for the Southern District of Ohio.

The amount, to be paid by Cardinal’s and the individual defendants’ insurers, represents one of the largest derivative settlements ever on behalf of an Ohio corporation, the shareholders said in their initial request for approval in May.

The shareholders alleged the board members ...