Melnyk had best intentions: Lawyer – Metro US

Melnyk had best intentions: Lawyer

Biovail Corp. founder Eugene Melnyk “tried to do the right thing at the right time” after he blamed a shortfall in third-quarter 2003 revenue and profit when a truck containing Biovail drugs crashed, his lawyer told an Ontario Securities Commission panel Thursday.

The OSC alleges the crash was used as an excuse to provide misleading information to investors that the truck’s payload couldn’t have produced revenue for the quarter, and was therefore misleading.

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