Valeant Pharma (VRX) Receives Subpoena from California Department of Insurance

November 9, 2016 4:44 PM EST

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Valeant Pharma (NYSE: VRX) disclosed the following in its Form 10-Q on Wednesday:

Investigation by the California Department of Insurance

On or about September 16, 2016, the Company received an investigative subpoena from the California Department of Insurance. The materials requested include documents concerning the Company’s former relationship with Philidor and certain California-based pharmacies, the marketing and distribution of its products in California, the billing of insurers for its products being used by California residents, and other matters. The Company is cooperating with this investigation. The Company cannot predict the outcome or the duration of this investigation or any other legal proceedings or any enforcement actions or other remedies that may be imposed on the Company arising out of this investigation.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Insiders' Blog, Litigation

Add Your Comment