DoJ joins SEC in looking at Bristol

The U.S. Attorney's Office in New Jersey "has started looking into the company's wholesaler inventory situation," Bristol reports. SEC has already opened a formal inquiry into the company's handling of inventory levels, which led Bristol to sharply cut its earnings forecasts for this year. The New Jersey investigation follows a recent meeting between SEC staff and healthcare fraud prosecutors to discuss industry accounting practices (1"The Pink Sheet" Sept. 23, p. 23)...

The U.S. Attorney's Office in New Jersey "has started looking into the company's wholesaler inventory situation," Bristol reports. SEC has already opened a formal inquiry into the company's handling of inventory levels, which led Bristol to sharply cut its earnings forecasts for this year. The New Jersey investigation follows a recent meeting between SEC staff and healthcare fraud prosecutors to discuss industry accounting practices (¹ (Also see "Philadelphia Rx Fraud Investigations Have New Chief; Are SEC Cases Next?" - Pink Sheet, 23 Sep, 2002.), p. 23)....