While details are still lacking, moments ago Valeant stock plunged on a Bloomberg report that the Ex-CEO and ex-CFO are the target of a criminal probe due to accounting fraud.
According to Bloomberg, U.S. prosecutors are focusing on Valeant Pharmaceuticals’ former CEO and CFO as they build a fraud case against the company that could yield charges within weeks, according to people familiar with the matter, Bloomberg News reports.
On the news, VRX stock, which has had many aborted attempts to break solidly above the $20 level, just got dragged back in the teens.
Developing.
via http://ift.tt/2fxBIO7 Tyler Durden