Valeant Says No More Restatements, to File 10-K by April 29
- Shares up as much as 15 percent, biggest gain since March 21
- Drugmaker says no `additional items requiring restatements'
Moody’s Senior VP: Major Asset Sale Negative for Valeant
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Valeant Pharmaceuticals International Inc. said a special ad hoc board committee has found no additional accounting issues at the company that would require more restatements, and that it plans to file its annual report on or before April 29.
The shares rose as much as 15 percent in their biggest intraday gain since March 21, and were up 8.6 percent to $28.37 at 9:46 a.m. in New York. Analysts have said that the ad hoc committee report was one of the biggest issues overhanging the stock, which has fallen 90 percent since their August peak, as of Monday’s close.