In 2006 a civil action was filed against Virbac Corporation (VBAC), manufacturer and distributor of animal health products, for fraudulently inflating revenues and deferring expenses from year 2000 to 2003. They were charged with violating anti-fraud provisions of the Securities and Exchange Act and ‘aiding and abetting the reporting, record keeping and internal controls provisions of the Exchange Act.’ Between 1999 and 2002 their revenues increased from $44 million to $64 million primarily from the Veterinary Division that accounts for over 50% of Virbac’s total revenues. Their stock rose from 1.125 to 8.35 from 1999 to 2002, respectively. The following Virbac employees were involved in the fraud; Thomas L. Bell, CEO and directorl Joseph
