The SEC today announced a $35 million Fair Funds distribution to investors in its case against Cardinal Health, Inc. The SEC stated that more than 98,000 investors were allegedly harmed by a fraudulent revenue and earnings management scheme at the company.
The funds are being returned to investors under Section 308 of the Sarbanes-Oxley Act, which allows the SEC to increase the amount of money distributed to investors by allowing civil penalties to be included in Fair Fund distributions. Since the passage of SOX in 2002, the SEC has returned more than $6.5 billion in Fair Funds to investors.
