The law firm of Federman & Sherwood has launched an investigation into
Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) (“Salix”) for possible
violations of federal securities laws.
On November 6, 2014 Salix announced disappointing financial results for
the third quarter 2014 which included a $88.6 million net loss. Salix
also announced the resignation of Adam Derbyshire as its chief financial
officer. Early reports indicate that Mr. Derbyshire’s resignation was
related to an accounting scandal involving levels of key
gastrointestinal drugs, forcing a reduction in Salix’s financial
forecasts for the remainder of the year. On this news, Salix’s shares
fell $50.33 per share to $88.22 per share in after-hours trading.
If you invested in Salix’s securities prior to November 7, 2014 or have
information to assist in our investigation; or, have any questions or
concerns regarding this notice or preservation of your rights, please
contact our office. Federman & Sherwood has extensive nationwide
experience in representing investors in securities, derivative and
merger-related shareholder class actions, and has been appointed as lead
counsel in multiple complex cases.
Copyright Business Wire 2014