The Commission stated that: "As described above, during 2013 and 2014, Salix, directly or indirectly, used the means or instrumentalities of interstate commerce, or of the mails, or of the facilities of a national securities exchange, in connection with the purchase or sale of Salix securities, to knowingly or recklessly make untrue statements of material facts or omit to state material facts that were necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading in: a. Salix earnings calls in 2013 and 2014, and b. the Risk Factors and MD&A sections of Salix's quarterly Reports on Form 10-Q for the first and second quarters of 2014."

The Commission stated that: "The Securities and Exchange Commission today charged Salix Pharmaceuticals Ltd. and its former CFO with repeatedly misleading analysts and investors about the company's future prospects. The former CFO, Adam Derbyshire, will pay more than $1 million to settle the charges."

The Court stated: "The Securities and Exchange Commission having filed a Complaint and Defendant Salix Pharmaceuticals, Ltd. having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment".