US SEC investigates Novo's oil-for-food program
On February 17, Denmark's Novo Nordisk said it had received a subpoena from the US Securities and Exchange Commission calling for the company and its subsidiaries to produce documents relating to the United Nations Oil-for-Food Program. Other companies have disclosed they also have received subpoenas from the SEC relating to this issue, it added.
Novo Nordisk stated that it intends to comply with the subpoena and fully cooperate with the SEC's investigation. However, at this time, the firm cannot determine or predict the outcome of this matter. In addition, the company cannot predict how long the investigation will take or when it will be able to provide additional information.
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