RE:Conflict of Structure within CXR OrganizationYes that's true I recall looking it up and thinking it was odd, as so many things are with CXR. Basically, CXR is self-sufficient with its ''connections'' to employees or executives of outside firms, mostly for legal stuff and accounting. There's very little use of indepedant firms, if any. Pretty much anyone involved with CXR, has a link to its executives one way or the other. Many share a past at Biovail, many started investment firms like JJR, went to work for auditing firms like PwC, etc etc. Makes you wonder if they're all in this together. I said it before, lawyers as executives is a detestable thing more often than not.
LaticeInExile wrote: CFO of CXRX's subsidiary in the Barbados is an Audit Director at PwC!
I can not make this stuff up. Check out the LinkedIn Profile for Arijit Mookerjee.
I can just hear him testifying in the upcoming SEC hearings....
"Well we went throught the figures that my buddies gave me and most of them I fiddled with myself. You gotta realize that the non-GAAP principles leave us a hell of a lot of leeway to dicck around with earnings. Plus, Concordia is paying PwC a boatload of money to certify the numbers, and if I don't, they'll find another independent auditor that will... and I may also be out of my Concordia CFO gig in the Barbados..."
The story here just gets better and better. I can't wait for Concordia to file with SEDI to tell us who was doing all the insider selling earlier this week ... and why.