Valeant Gains as Citron Refrains From New Allegations
- Short seller to pass information to `mainstream media'
- Ackman, ValueAct, Sequoia have come to drugmaker's defense
Wall Street's Take on Valeant
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Valeant Pharmaceuticals International Inc. shares gained after stock commentary site Citron Research said it won’t release new allegations against the drugmaker, whose shares have plummeted amid scrutiny of its business practices.
“Yes, we have reviewed numerous data points strongly suggesting that Valeant’s operation is far ‘dirtier’ than just Philidor,” Andrew Left, the short-seller who runs Citron Research, said in a note. “We are passing all new information on to the mainstream media investigative reports, whose legal teams are far deeper than those at Citron.”