New Data Confirms Valeant's Undisclosed SEC Investigation
Probes Reporter, an independent publisher of investment research that focuses on public company interactions with the SEC, said last week that Valeant Pharmaceuticals Intl Inc (NYSE: VRX) is likely facing a new SEC investigation that hasn't been disclosed to the investment community.
Probes Reporter followed up with a new research report over the weekend.
Probes Reporter stated that it received an update from the SEC that confirms Valeant's involvement in an ongoing enforcement proceedings, which remain undisclosed. The investigation "somehow pertains to the conduct, transactions, and/or disclosures of Valeant Pharmaceuticals."
The report added that the ongoing proceedings "likely started last fall and absolutely should have been disclosed by now."
"The continued silence raises troubling questions about the overall quality of Valeant's disclosures and the integrity of the management team that produces them," Probes Reporter further argued in its report.
Shares of Valeant were trading lower by more than 8.78 percent on Monday after the company issued a business update over the weekend, including withdrawing its guidance and postponing a scheduled conference call to discuss its outlook.
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