Valeant Fined $45 Million Over Improper Revenues, SEC Says (1)
By Jesse Westbrook
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 ...