BAUSCH & LOMB DISCLOSES PROBE, POSTS LOWER NET

Bausch & Lomb on Wednesday disclosed an investigation into allegations of improper conduct by management of its Brazilian subsidiary. The Rochester, New York, maker of eye care products said it may delay filing its quarterly report, due November 3, pending the results of the investigation. The probe is looking into allegations that executives of the unit mischaracterized about $600,000 in expenses to fund a $1.5 million pension arrangement for themselves.

Hindustan Times (http://www.hindustantimes.com/news/181_1530077,00020009.htm)