Valeant corrects 'erroneous' report about Salix investigation
Valeant Pharmaceutical said it "corrected an erroneous news report that mischaracterized the timing of the initiation of an SEC investigation disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2016, which was filed today." The SEC investigation into possible securities law violations by Salix was first disclosed by Valeant on April 30, 2015 in its Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, and subsequently thereafter in its quarterly and annual filings. The disclosure in the company's Form 10-K filed today is identical to the disclosure included in the company's Form 10-Q filed on October 26, 2015. This investigation relates to legacy Salix matters that precede the acquisition of Salix by Valeant in April 2015.