RE:RE:Does the restatement need to be a negative one?NHC's restatement was for non-cash items. Valeant's potential restatement is related to revenue (As Valeant's special committee was set up to review cash items). Revenue recognition errors are dreaded by investors due to accounting frauds in the past by other companies.
In addition, CVS health dealt a blow to Valeant as well today: https://fortune.com/2016/02/22/cvs-valeant/?xid=yahoo_fortune
Both stories are contributing to the after-market sell-off. Not bashing, just putting out the facts
sunshine7 wrote:
NHC did a restatement (after shorts piled on) and they have bounced back nicely on short covering in the past week. VRX will find a bottom... somewhere.