Investors Overreact to Restatements in the Short Term
Share prices fall unrealistically low around the time of restatement announcements but then show abnormal positive returns over the longer term.
Allergan Fined $15M Over Disclosure Failures
The SEC says the drug maker failed to timely inform investors about its merger talks with Salix and Actavis.
Valeant Sells Dendreon, Other Assets for $2B
The sales of Dendreon and three skincare brands will help the troubled drug maker to reduce its $30 billion debt burden.
Ex-Valeant, Philidor Execs Accused of Kickback Scheme
The defendants “illegally converted Valeant shareholder money into their own personal nest eggs," a federal prosecutor alleges.
Regulator Bars Valeant Officers From Trading
A Canadian regulator issues a cease trade order after the troubled drug maker announces it would be late filing financial reports.
Ex-Valeant CFO Denies ‘Improper Conduct’
Howard Schiller says he is not to blame for the incorrect recognition of $58 million in revenue that has caused Valeant to restate its financial results.
Valeant Stock Falls 10% on News of CEO’s Illness
Michael Pearson, who was hospitalized with pneumonia, has been trying to win back investor trust amid concerns over Valeant's pricing practices.
Valeant to Take $150M Hit From Walgreens Deal
Valeant's revenue hit will include the value of the drugs shifted to consignment status and expected delays recognizing revenue from the Walgreens deal.
Activist Investor Can’t Dodge Insider Trading Suit
A judge finds Bill Ackman can be sued for allegedly buying a stake in Allergan based on inside information about a takeover bid by Valeant Pharmaceuticals.
Zoetis Gives Back Post-Takeover Report Gains
Shares in the animal-health giant take a rollercoaster ride after a report of a possible acquisition by Valeant Pharmaceuticals.