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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: who cares? who wrote (8666)	12/4/2001 8:04:04 PM
From: Sir Auric Goldfinger	Read Replies (2) \| Respond to of 19428

PolyMedica Receives Formal Order of Investigation From SEC 2001-12-04 16:53 (New York) PolyMedica Receives Formal Order of Investigation From SEC Woburn, Massachusetts, Dec. 4 (Bloomberg) -- PolyMedica, the biggest maker of diabetes test kits, said the U.S. Securities and Exchange Commission is conducting a formal investigation of the company's accounting, financial reports, sales of securities and other matters. Previously the company had said the SEC was conducting an inquiry. PolyMedica, based in Woburn, Massachusetts, is already being investigated by federal authorities looking into possible fraud. The FBI is investigating PolyMedica's Liberty Medical Supply and Liberty Home Pharmacy units. The company also has said it received notices PolyMedica was paid too much by Medicare, the U.S. government's health-insurance program for the elderly. The company said in a statement it was cooperating with the SEC. The formal order allows the SEC to obtain information from third parties, in addition to the company. The announcement was made after U.S. markets closed. Shares of PolyMedica fell as low as $21.05 in after-market trading. The shares closed at $24.36. --Catherine Dodge in the Princeton newsroom (609) 750-4503, or at cdodge1@bloomberg.net / mfr Story illustration: To compare PolyMedica's share performance to indexes, see {PLMD US <Equity> COMP <GO>}. For top stories in health care, see: {HTOP <GO>}.