Valeant is on track for its 10-K Valeant Pharmaceuticals Provides Update Regarding Regulatory Matters
Company is on Schedule to File its 10-K on or before April 29, 2016, as Previously Disclosed
LAVAL, Quebec, April 13, 2016 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) ("Valeant" or the "Company") today provided an update on regulatory matters.
As previously disclosed, the Autorit des marchs financiers (the company's principal securities regulator in Canada) issued a customary management cease trade order ("MCTO") on March 31, 2016 relating to the trading in securities of the company by the company's CEO and CFO and each other member of the company's board of directors. Keeping with common practice, an MCTO relating to a director of the company who is resident in Ontario was issued by the Ontario Securities Commission on that same date. The MCTOs do not affect the ability of other shareholders to trade in the securities of the company.
The MCTO was issued in response to an application made by the company in connection with the company's delay in filing its audited annual financial statements for the year ended December 31, 2015 (together with the required associated filings, the "Canadian Required Filings") with Canadian securities regulators by the March 30, 2016 filing deadline.
In connection with the issuance of the MCTOs, and in accordance with its obligation to provide bi-weekly updates under the alternative information guidelines set out in National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, the company confirms that it has fulfilled its stated intentions regarding compliance with such alternative information guidelines and that, except as previously disclosed, there have been no material changes to the information relating to the company's delay in making the Canadian Required Filings or its other required filings under applicable Canadian securities laws or otherwise concerning the affairs of the company. The Company is working diligently to make the Canadian Required Filings on or before April 29, 2016.