Alere (NYSE:ALR) shares took a hit today after revealing a U.S. Justice Dept. subpoena for documents on its sales practices in Africa, Asia and Latin America under the Foreign Corrupt Practices Act, as it prepared for its nearly $6 billion acquisition by Abbott (NYSE:ABT).
The March 11 subpoena asks for documents on Alere’s dealings with 3rd-party distributors and foreign healthcare officials, the Waltham, Mass.-based company said. Alere also said it will not meet today’s deadline for its annual earnings report due to an expanded analysis of how it recognizes revenues in Africa and China.
ALR shares were down -6.5% to $49.99 apiece in early-afternoon trading today.