Bausch Health agreed to pay the U.S. Securities and Exchange Commission $45 million to settle allegations it misled investors in reported financial figures during the 2014 and 2015 reporting periods.
What you should know:
1. Bausch Health, which was known as Valeant Pharmaceuticals during the aforementioned time period, allegedly defrauded investors in financial statements by covering up ties with mail-order pharmacy company Philidor Rx, MarketWatch reports.
2. Bausch settled all charges without admitting guilt or denying the SEC's charges.
3. The SEC recognized Bausch's efforts to conduct an investigation into the matter and provide information voluntarily to SEC staff.
4. Since the incident, Bausch rebranded the company and installed a new board and executive management team.