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Ex-BMS execs strike deals on US securities fraud case

This article was originally published in Scrip

Executive Summary

Former Bristol-Myers Squibb finance chief Frederick Schiff and former executive vice-president of BMS worldwide medicines Richard Lane have reached deals with US prosecutors under which all criminal charges in the five-year-old case will be dismissed if they stay out of trouble for 12 months. It was alleged that the two provided misleading information to investors as part of a "channel stuffing" scheme to artificially inflate company profits.

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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

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