- In a statement, OPKO Health (NASDAQ:OPK) says if the SEC had followed its own procedures and notified the company and Dr. Phillip Frost of its intent to file a complaint, both would have provided the necessary information that would have "answered a number of the SEC's apparent questions," avoiding the filing of the lawsuit, adding "OPKO and Dr. Frost have always prided themselves on adhering to the highest standards of financial disclosure, and they are confident that once a proper investigation is completed and the facts of the case have been fully disclosed, the matter will be resolved favorably for them.”
- The company notes that the complaint does not accuse the company of misbehavior in its business practices, financial statements or financial practices.
- Shares were down 18% on Friday in reaction to the news.
- Previously: SEC charges Frost and Honig with stock promotion schemes; OPKO down 18% (Sept. 7)
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Update: On September 14, the company confirmed the resumption of trading, halted on September 7, and stated the it will "vigorously defend itself" against the SEC charges.