Business Services Industry
Bankruptcy Risk Looms for Wilmington, N.C., Drug Maker aaiPharma.
Knight Ridder/Tribune Business News, April, 2004
By Sabine Vollmer, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Apr. 10--Pharmaceutical firm aaiPharma braced investors Friday for a possible bankruptcy filing as a federal grand jury broadened its investigation into the accounting practices of the specialty drug maker.
The Wilmington-based company said in a regulatory filing that it has received subpoenas relating to its 2002 and 2003 financial records, sales of two of its medicines, recordings of conference calls with analysts, and employment documents concerning senior executives.
Subpoenas from a grand jury in the western district of North Carolina were issued April 2, shortly after the company reported that that an internal review had discovered "unusual...
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