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If you purchased shares of CareFusion Corporation (NYSE:CFN), you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
August 9, 2013 (Shareholders Foundation) - An investigation on behalf of investors who purchased shares of CareFusion Corporation (NYSE:CFN) was announced concerning whether certain CareFusion officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain CareFusion officers and directors breached their fiduciary duties and caused damage to the company and its shareholders. More specifically, the investigation concerns whether certain company officials improperly marketed CareFusion's skin preparation product, ChloraPrep.
On May 9, 2013, CareFusion Corporation reported its third quarter 2013 results. Among other things, CareFusion Corporation said that in April 2011, it received a federal administrative subpoena from the U.S. Department of Justice (Department of Justice) through the U.S. Attorney for the District of Kansas and that in addition, in September 2011, it received a federal administrative subpoena from the Office of Inspector General (OIG) of the Department of Health and Human Services. CareFusion Corporation also said that in August 2012, it received another federal administrative subpoena from the Department of Justice containing additional information requests and that all three subpoenas request for documents and other materials that relate primarily to its sales and marketing practices for its ChloraPrep skin preparation product and information regarding its relationships with healthcare professionals.
In April 2013, CareFusion Corporation announced an agreement in principle pursuant to which it expects to pay the government approximately $41 million to resolve the governments allegations.
CareFusion Corporation reported that its Total Revenue rose from over $3.37 billion for the 12 months period that ended on June 30, 2010 to over $3.59 billion for the 12 months period that ended on June 30, 2012 and that its respective Net Income increased from $194 million to $293 million.
Shares of CareFusion Corporation (NYSE:CFN) grew from $21.07 per share in June 2010 to as high as $39.13 per share in July 2013.
On August 7, 2013, NYSE:CFN shares closed a $36.91 per share.
