Related Documents:
33-10809
31-Jul-2020
Administrative Proceeding
Order Instituting Cease-and-Desist Proceeding Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On July 31, 2020, the SEC instituted settled cease-and-desist proceedings against Valeant Pharmaceuticals International, Inc., now known as Bausch Health Companies Inc. The SEC stated: "When announcing certain GAAP and non-GAAP financial measures, Valeant failed to disclose to investors certain material information about these measures."
2020-169
31-Jul-2020
Press Release--Administrative Proceeding
Pharmaceutical Company and Former Executives Charged with Misleading Financial Disclosures
The SEC stated that: "Bausch Health, formerly Quebec, Canada-based Valeant Pharmaceuticals, agreed to pay a $45 million penalty to settle charges of improper revenue recognition and misleading disclosures in SEC filings and earnings presentations. Three former executives - the chief executive officer, chief financial officer, and controller - also agreed to pay penalties to settle charges against them."
34-99284
08-Jan-2024
Administrative Proceeding
Order Consolidating Fair Funds and Setting Deadline to Submit Proposed Plan of Distribution
The Commission ordered that: "the Fair Funds created pursuant to the Pearson Order, Schiller Order, and Carro Order are consolidated with the Fair Fund created pursuant to the Valeant Order for the purposes of distribution administration; and . . . , the Division will submit a Proposed Plan for the Valeant Fair Fund by June 30, 2024."
34-99468
05-Feb-2024
Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Miller Kaplan Arase
LLP is appointed as the Tax Administrator for the QSF in the above-referenced proceeding."
34-99516
12-Feb-2024
Administrative Proceeding
Order Appointing Fund Administrator, Setting Administrator's Bond Amount, and Authorizing Payment of Fees and Expenses
The Commission ordered that: "A. KCC is appointed as the Fund Administrator . . . ; B. KCC shall obtain a bond . . . in the amount of $45,425,000.00; C. the Fund Administrator will submit invoices to the Commission staff for services
rendered . . . ; D. at the direction of an Assistant Director of the Office of Distributions, OFM is
authorized to pay the Fund Administrator's fees and expenses from the Fair Fund"
Proposed Plan of Distribution
The Commission stated: "The Division of Enforcement submits this Proposed Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission (the “Commission”) . . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of civil money penalties paid by Valeant Pharmaceuticals International, Inc. n/k/a Bausch Health Companies (“Valeant”),1 J. Michael Pearson (“Pearson”),2 Howard B. Schiller (“Schiller”),3 and Tanya R. Carro, CPA (“Carro”)4 (collectively, “Respondents”) pursuant to four separate, but related settled orders (collectively, the “Orders”)."
34-100808
22-Aug-2024
Administrative Proceeding
Order Approving Corrected Plan of Distribution
The Commission ordered that: " the Proposed Plan is approved, and the approved Corrected Plan of Distribution
shall be posted simultaneously with this order on the Commission's website at www.sec.gov."
Corrected Plan of Distribution
The Commission stated: "The Division of Enforcement has submitted this Plan of Distribution (the “Plan”)
to the United States Securities and Exchange Commission (the “Commission”) . . . . This Plan provides for the distribution of a Fair Fund (the “Fair
Fund”), comprised of civil money penalties paid by Valeant Pharmaceuticals International, Inc. n/k/a Bausch Health Companies (“Valeant”), J. Michael Pearson (“Pearson”), Howard B.
Schiller (“Schiller”), and Tanya R. Carro, CPA (“Carro”) (collectively, “Respondents”)
pursuant to four separate, but related settled orders (collectively, the “Orders”)."
