Cardinal Health Ventures, Inc v. Michael Scanameo, M.D., Carol Scanameo, and Michael Scanameo, M.D., Inc

Bradford, Judge.

Case Summary

On August 5, 2013, Appellees-Plain-tiffs Michael Scanameo, M.D., Carol Scan-ameo, Michael Scanameo, M.D., Inc. (collectively, “the Scanameos”), filed suit against Appellant-Defendant Cardinal Health Ventures, Inc. (“Cardinal Health”), alleging that Cardinal Health committed securities fraud. Specifically, the Scanam-eos alleged that Cardinal Health sold shares in two medical clinics to the Scan-ameos knowing that the shares were “worthless.” In suing Cardinal Health, the Scanameos sought to recover the sum paid for the shares plus interest and reasonable attorney’s…