Bristol Shares May Rise on News of Probe Deal
Bristol-Myers Squibb Co.’s shares may rise after newspaper reports that the company is nearing a settlement of a 2-year-old U.S. probe into accounting methods, investors said.
The company may be close to settling the Securities and Exchange Commission inquiry, the Financial Times and the Wall Street Journal reported.
In June the company increased the money it sets aside for legal settlements by $455 million.
The company declined to comment on a possible settlement.
Shares of New York-based Bristol-Myers rose 26 cents to $23.16 on the NYSE.
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