U.S. authorities are looking into potential accounting fraud charges related to Valeant's hidden ties to Philidor Rx Services
U.S. prosecutors are focusing on Valeant Pharmaceuticals International Inc.'s former chief executive and chief financial officer as they build a fraud case against the drug maker, Bloomberg has reported.
The case against Valeant could yield charges within weeks, the report said, citing people familiar with the matter.
U.S. authorities are looking into potential accounting fraud charges related to Valeant's hidden ties to Philidor Rx Services LLC, a specialty pharmacy company that the company secretly controlled. Story
DAILY DEALS
TD makes $600-million bid to buy Richardson GMP: sources
Toronto-Dominion Bank has made a preliminary offer of about $600-million to buy wealth management firm Richardson GMP Ltd., according to people familiar with the sale process.
TD, Canada's second-largest bank by assets, recently sought an extension on its exclusivity to perform due diligence on the asset before making a binding bid. The bank's due diligence period with Richardson GMP runs until Nov. 22, one of those people said. Story
PSG files for bankruptcy protection, gets lifeline from Fairfax, Sagard
After months of uncertainty, insolvent Bauer hockey gear maker Performance Sports Group Ltd. has laid out a survival plan for the future, announcing Monday that it is filing for bankruptcy protection while organizing an auction to sell the company.
PSG said in court filings that it is facing a "severe liquidity crisis" and currently has just $7.2-million (U.S.) in cash on hand, which is not enough to even cover $7.5-million in accrued and unpaid employee wages and sales tax as of Oct. 21. Story
IN CASE YOU MISSED IT
Retirement of TD's U.S. head shocks colleagues, Bay Street. Story
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