Sounds like a good explanation but it's just speculation. Even if the "restatement of earnings related to philidor (or whatever)" turned out to be meaningful VRX still could have jumped 5% after a two day 20% sell-off. It's known as Volatility.
"Volatility" is the reason you ascribe to a movement you can't explain through obvious reasons. JPM is down 5% today. Is that because of volatility or because they said that the trading business is sucking at their investor day? VIAB had an intraday spike. Was that volatility or because there might be pressure to break out part of the business?
I have upside short puts (they were downside when I put them on last week). It will be a volatile position but I believe it's a good trade. Citron covered their short on the stock.
Volatility makes options go up, not stocks. More like a short squeeze, there's plenty of games going on with this stock.
The nice thing about short puts is you lose less than 100% of strike. When a company is in trouble either the CFO resigns or they lie. The CEO always lies of course. If the CEO says 'we see no problem with debt service going forward,' and the CFO resigns, double down on your shorts!