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Valeant shares tumble amid fresh investigation

Valeant’s shares tumbled 18 per cent on Monday afternoon, after the drug company revealed it was being investigated by the US securities regulator, capping two days of dramatic announcements that have reignited fears over the Canadian drugmaker’s future. A spokesperson said Valeant had been received a subpoena from the Securities and Exchange Commission but did not disclose the nature of the request. The probe means the company is now being investigated by several authorities, including the US Attorney’s Offices for Massachusetts and the Southern District of New York, the SEC, and Congress.

By: David Crow
Read the full article at ft.com.