Valeant CEO Michael Pearson may have to testify to Congress
Hedge fund manager William Ackman expressed self belief in the chief government of Valeant prescribed drugs international Inc. amid issues about the company’s management, but additionally stated the CEO would wish to do whatever is important to stem a steep slide within the stock.
Ackman wrote CEO Michael Pearson on Thursday in an e mail with the subject line “You,” saying, “We share the board’s confidence in you and your management.”
He ended the email, however, by using saying: “you’ve assured me that you simply and the rest of the board are taking into consideration any and all choices that will advantage shareholders and other stakeholders.”
The feedback came after a front-web page article in the Wall boulevard Journal quoted Ackman as he wrestled with whether or not Pearson had the precise set of public-going through abilities to lift the drug firm from its current quandary. the corporate’s shares VRX, -14.fifty one% fell as so much as 20% during the day and had been just lately down 12% at $ eighty.55.
An multiplied version of this report seems at WSJ.com.
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