Happy Halloween Billy Boy Ackman! It appears the authorities are going to bring both the former CEO and CFO of VRX up on criminal charges of fraud and possibly toss them into a prison cell with Bernie Maddof in fairly short order.
Maybe you could testify on Michael J. Pearson’s behalf?
Authorities are looking into potential accounting fraud charges related to the company’s hidden ties to Philidor Rx Services LLC, a specialty pharmacy company that Valeant secretly controlled, the people said. Federal prosecutors in Manhattan and agents at the Federal Bureau of Investigation in New York have been investigating the company for at least a year.
Prosecutors are examining the actions of J. Michael Pearson, Valeant’s former chief executive officer, and Howard Schiller, the ex-chief financial officer who became interim CEO during a medical leave by Pearson, according to the people, who discussed the confidential proceedings on the condition of anonymity. Prosecution of individual executives could go beyond just those two, one person said, adding that Philidor executives could also be charged.
“We are in frequent contact and continue to cooperate” with U.S. authorities, Valeant said in a written statement. “We do not comment on rumors about investigations, and cannot comment on or speculate about the possible course of any ongoing investigation. Valeant takes these matters seriously and intends to uphold the highest standards of ethical conduct.”
All of this unfortunate news is having a haunting effect on the shares of VRX — off by 12% to new lows.
It’s also worth mentioning, Wall Street is out to kill you today — dropping your new billion dollar position in CMG sharply whilst bidding up your short HLF.
Happy Halloween Bill Ackman. Enjoy your candy corns.
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Rekt.
Why are Trump campaign officials A.J. “Butt Ugly” Delgado and
Kelly Ann Conway wearing hallowe’en masks for their MSNBC interviews?
They are scaring my grandkids.
Hubris take down is going tobe epic. Vix is set to go into second gear.
I sometimes get the feeling that it’s personal with Ackman, Mr. Fly. A gentleman need not divulge his secrets of course.
To zero? Happened many times….
Love this:
http://www.youtube.com/watch?v=UNy4eokpsAo&sns=em
The real question is: when Ackman’s meltdown goes through the phase transition from solid to liquid, will it be contained?