VRX - Valeant's latest legal challenge quiet damaging

Discussion in 'Valeant Pharmaceuticals' started by RobertPhillips900, Aug 28, 2017 at 4:14 PM.

  1. #1 RobertPhillips900, Aug 28, 2017 at 4:14 PM
    RobertPhillips900

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    $VRX's latest legal challenge has intensified after fund manager Lord Abbett officially filed a securities fraud lawsuit against the company. The mutual fund company claims that it purchased the debt securities at an artificially high price due to misinformation given by Valeant. It claims $80 billion in investor losses..
    http://alph.st/pbdb28f0
     
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  2. #2 anonymous, Aug 28, 2017 at 7:28 PM
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    Not to excuse any criminal activity by Valeant, but Lord Abbett should have done a better job of evaluating Valeant. I certainly would not invest a dime in their funds.
     
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  3. #3 anonymous, Aug 28, 2017 at 8:03 PM
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    Isn't debt security, bonds and notes? His fund lost $80b when the company was only able to scare up $30b in debt, and some has been paid off, while a good chunk was kicked down the road. Even if he did buy stocks at 250/share or so, he couldn't have lost more than Ackman or Lord Abbett's name would be all over the news as the biggest loser.

    So, his lack of due diligence can be covered up with a lawsuit. Frivolous, anyone? The judge is going to laugh him out of the courtroom.

    Scratching my head on this one.
     
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  4. #4 anonymous, Aug 28, 2017 at 8:58 PM
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    Good news because company is led by scum selling shit products.
     
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  5. #5 anonymous, Aug 29, 2017 at 7:08 AM
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    ^ grossly overpriced shit products
     
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