Not a good day for VRX longs, the stock is taking out major support here!
Valeant Pharmaceuticals on Monday afternoon told Bloomberg that it’s under investigation by the Securities and Exchange Commission, sending its shares sharply lower. The controversial drug-maker didn’t disclose the subject of the SEC’s interest, but Bloomberg reports that it is unrelated to an existing SEC investigation into the company’s 2015 purchase of Salix Pharmaceuticals.
This comes on the same day that CEO Michael Pearson returned from a two-month medical leave, and the Canadian company announced that it would split the CEO and chairman roles (with existing director Robert Ingram taking Pearson’s chairman spot).
Submitted February 29, 2016 at 04:54PM by StockJock-e http://ift.tt/1ndcq74
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