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Valeant Fined $45 Million Over Improper Revenues, SEC Says (1)

July 31, 2020, 11:09 PM

Valeant Pharmaceuticals International Inc., now known as Bausch Health, will pay $45 million to resolve U.S. regulator’s claims that it booked improper sales -- capping the history of a corporate name that included the ouster of top executives and big losses for Bill Ackman’s Pershing Square Capital Management.

Former Valeant Chief Executive Officer J. Michael Pearson, ex-Chief Financial Officer Howard Schiller and former Controller Tanya Carro also agreed to pay fines, the Securities and Exchange Commission said in a Friday statement.

The regulator accused Valeant of booking misleading revenue growth that was based on sales to ...