Melnyk in a bit of trouble

[ELA]

While the charges might be new, the topic is nothing new at all. Also what's not new was a PR smear campaign against Melnyk and Biovail from years ago. That story was the subject of a 60 Minutes piece where Melnyk was interviewed at length about all of the allegations, potential charges, etc.

I am not sure if the two were/are related. As far as the offshore trusts, that's nothing out of the ordinary. Melnyk is not a US or Canadian citizen and offshore trusts are common in sophisticated estate planning. Of course it's not illegal to have those, but illegal to not abide with the proper laws about disclosure, filings, taxes, etc. I certainly don't know about the shareholder disclosure laws so that will have to go through the process and I am sure will play out accordingly.

Eric