BMS Avoids Charge As Prosecution Deal Expires

Law360, New York (June 15, 2007, 12:00 AM EDT) -- The U.S. Attorney's Office in New Jersey has dropped a securities fraud charge against Bristol-Myers Squibb Co., saying the drug maker has turned itself around in the past two years.

A deferred prosecution agreement, in which the pharmaceutical giant vowed to reform its ways after an accounting fraud scandal, expired today, with the attorney's office announcing it would not pursue the criminal indictment.

In a statement Thursday announcing the expiration of the agreement, U.S. Attorney for the District of New Jersey Christopher Christie said Bristol-Myers had...
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