The headquarters of Valeant Pharmaceuticals International, Inc. stands in  Bridgewater Township, U.S., on Wednesday Nov. 04, 2015. Photographer: Michael Nagle/Bloomberg
Investors are seeking greater clarity on Valeant's direction. Photograph by Michael Nagle — Bloomberg Finance

Here’s Why Valeant’s Shares Just Plunged, Again

Oct 31, 2016

U.S. prosecutors are focusing on Valeant Pharmaceutical's (vrx) former chief executive and chief financial officer as they build a fraud case against the drugmaker, Bloomberg reported.

The case, if it is brought, is likely to focus on accounting irregularities. Valeant has faced allegations of accounting fraud in the past. The FBI is part of the investigations.

The case against Valeant could yield charges within weeks, the report said, citing people familiar with the matter.

(Related: Here's a Timeline of the Big Valeant scandal)

Valeant 's U.S.-listed shares tumbled 5.5% to $19.23. The company could not be immediately reached for comment.

Earlier this year Laval, Quebec-based Valeant replaced its long-time CEO Michael Pearson with Perrigo Co Plc's CEO, Joseph Papa.

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions