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Discussion in 'Valeant Pharmaceuticals' started by Anonymous, Oct 17, 2014 at 5:16 PM.

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  1. Anonymous

    Anonymous Guest

    AGN is down; VRX is up. Allegations that AGN manipulated ....
     

  2. Anonymous

    Anonymous Guest

    most day to day changes don't mean much. AGN stock is basically pinned to VRX stock because of the pending VRX offer. AGN stock had been up last week on rumors of possible Actavis bid and an increased VRX offer.
     
  3. Anonymous

    Anonymous Guest

    Speaking during a conference in Toronto, Mr. Ackman said Pershing Square Capital LP will amend its previously filed legal action against Allergan with more information showing officials at Allergan have publicly and privately made false comments to Valeant shareholders about Valeant's financial state to drive down the value of its shares.

    He said his group knows of Valeant investors who sold their shares after private meetings with Allergan where they were told information about Valeant's alleged financial problems, which he alleges was false. He said their decision to dump their stock contributed to Valeant's share price decline.

    He said Allergan has launched an illegal campaign to damage Valeant to fend off an unwanted takeover bid.

    "They have consciously put out materially false and misleading information about Valeant's business and accounting. They called it a house of cards and said it will collapse in the third quarter and Bausch and Lomb sales are going to decline," he told reporters.

    "We believe they knew those statements were false at the time they made them and we have found evidence to that effect, that this was a conscious takeover defense strategy to malign Valeant and their accounting and the stock price, and they didn't believe what they were saying when they made those statements."

    Ackman said his lawyers have seen the information and are reviewing it now. He said the information will be given to Canadian and U.S. securities regulators as soon as possible, hopefully some time next week.

    Mr. Ackman also issued a threat Thursday to directors on the board of Allergan, saying their actions have been so unfair they are likely to never get selected to sit on any other public board again.

    "These directors will not serve again on a U.S. public company board of directors," he warned. "The only hope of redemption for any of them is that they wise up very, very quickly. I don't see that happening based on how they've behaved to date. They've presided over a public company that has market manipulated Valeant's share price down and that was a conscious strategy of the management of the company. ... It happens to be illegal in both the United States and Canada and I hope they get held to account for that. "
     
  4. Anonymous

    Anonymous Guest

    And we hope he gets slapped with the heaviest of fines for being a jerk and an asshole!
     
  5. Anonymous

    Anonymous Guest

    A 45-page court filing from Canada-based Valeant VRX, +4.49% that was made public late Monday includes large sections of text that have been redacted and remain under court seal. Valeant said in a separate court filing, however, that the redactions come at the behest of Allergan AGN, +3.85% .

    They include statements made and documents gathered as the two sides were collecting evidence for a pending court hearing on the dispute, and Valeant says it has agreed to keep them under seal, at least temporarily.

    There is no proprietary information about Valeant in the excised material, the company said, and it agreed to keep it under seal “under an abundance of caution.” Valeant is looking to unseal the redacted portions at some point.

    “Moreover, there is a fundamental unfairness to Allergan taking a very public position devaluing Valeant’s stock and at the same time using the confidentiality order to shroud in secrecy its behind-the-scenes machinations that accompanied its public statements,” Valeant said in its filing.