Defendant Name: Bausch Health Companies, Inc.

Defendant Type: Public Company
SIC Code: 2834
CUSIP: 07173410

Document Reference: 33-10809

Document Details

Legal Case Name In the Matter of Valeant Pharmaceuticals International, Inc., n/k/a Bausch Health Companies Inc.
Document Name 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
Document Date 31-Jul-2020
Document Format Administrative Proceeding
File Number 3-19899
AAER 4153
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:

Civil Penalty

Individual:     $45,000,000.00 Shared:    

Related Documents:

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"

Related Actions:

In the Matter of J. Michael Pearson
J. Michael Pearson
In the Matter of Howard B. Schiller
Howard B. Schiller
In the Matter of Tanya R. Carro, CPA
Tanya R. Carro, CPA