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Cubist Discloses FCPA Probe

Jaclyn Jaeger | August 13, 2014

Cubist Pharmaceuticals disclosed this week in a regulatory filing with the Securities and Exchange Commission that it is under investigation by the SEC and Department of Justice for potential violations of the Foreign Corrupt Practices Act.

In a Form 8-K, dated Aug. 11, Cubist said the FCPA allegations concern "a potentially improper payment to a research laboratory" and an "attempted share grant” in 2011 by Optimer Pharmaceuticals, a biopharmaceutical company that Cubist acquired last year.

Cubist did not provide any further details on the investigation. In March 2013, however, the company disclosed in a regulatory filing that the company’s CEO and its chief compliance officer resigned at the request of independent board members after a year-long internal investigation...

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