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PDL BioPharma, Inc.
(PDL)
PDLI was orally notified by its independent registered
accounting firm, Ernst & Young LLP ("EY") that it was resigning effective
September 11, 2014. The resignation was confirmed in a letter delivered to the
Company on September 15, 2014 and reported in PDL's Form 8-K filed on
September 16, 2014.
PDL has issued the following statement in response to the announcement:
"We have received a number of inquiries on the reason for the resignation of
EY. We were surprised by the resignation as we did not have any disagreements
with EY on accounting practices, scope or procedures nor did we have any
reportable events that would have caused EY to resign their position as our
auditors," stated Peter Garcia, vice president and chief financial officer of
PDL. "We thank EY for their years of service to the company and have already
begun the process of appointing new auditors, which we expect to announce in
the coming weeks. We currently expect to continue our financial reporting in
a timely manner."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: NewsPress Releases
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