Two Sequoia Fund Directors Resign as Valeant Losses Mount
- Pair left as fund defends its investment in Valeant stock
- Valeant under fire from short sellers for sales practices
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Two of the five independent directors of the Sequoia Fund, run by the largest shareholder in Valeant Pharmaceuticals International Inc., have resigned.
Vinod Ahooja and Sharon Osberg, who were listed as independent directors on Sequoia’s semiannual report, have quit, Roger Lowenstein, chairman of the fund, said in a telephone interview. He declined to comment on why they left. The two are no longer listed as directors on the fund’s website.