Par Pharmaceuticals subject to informal SEC investigation

By Lisa Kerner

Charlotte, N.C., July 24 - Par Pharmaceutical Cos., Inc. said the Securities and Exchange Commission is carrying out an informal investigation of its recently announcement restatement of financial statements.

The company said it will cooperate with the investigation.

Par added that it has obtained outside legal counsel to conduct an independent investigation into the circumstances relating to the restatement, which was announced on July 5.

Par and some company officers have also been named as defendants in shareholder class action lawsuits.

Woodcliff Lake, N.J.-based Par develops generic drugs and branded pharmaceuticals for specialty markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.