OSC Statement in the Matter of Biovail Corporation and Eugene N. Melnyk

TORONTO – The following statement was issued today with respect to the decision in the matter of Biovail Corporation and Eugene N. Melnyk by Tom Atkinson, Director of Enforcement at the Ontario Securities Commission (OSC):

“The decision speaks for itself. Mr. Melnyk was found not to have contravened Ontario securities law but his conduct was found to be contrary to the public interest. Within 30 days, a sanctions hearing will be set.”

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