BUZZ-Valeant Pharmaceuticals International Inc: Shares volatile on Twitter rumor

Mon Nov 30, 2015 3:53pm EST
 
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** Canadian drugmaker's U.S.-listed shares recoup earlier losses, up 3.6 pct at $90.28 in volatile trading and heavy volumes

** Shortly after 13:28 ET, Valeant's stock fell about $2 on heavy volume, reacting to a Twitter rumor about FBI raiding company's Somerset County, New Jersey office

** FBI spokeswoman told Reuters no official business going on in Somerset County today

** Person, who posted the tweet about the raid, later calls it "false alarm"

** Up to Friday's close, Valeant's shares had fallen about 25 pct, since short-seller Citron Research published report accusing Valeant using specialty pharmacies to inflate revenue