Sequoia Fund Managers Suffer $1.2 Billion Loss as Valeant Falls

  • Drugmaker plunges as U.S. Congress asks for price data
  • Valeant represents almost 30 percent of Sequoia's assets

Ruane Cunniff & Goldfarb, managers of the $7.8 billion Sequoia Fund, suffered a paper loss of about $1.2 billion after shares of Valeant Pharmaceuticals plunged. 

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