from Zero Hedge
The news is out.. and it’s disappointing..
- Initiates Search for New CEO; J. Michael Pearson to Remain as CEO Until Successor is Named
- William A. Ackman Joins Board of Directors; Katharine B. Stevenson Steps Down from Boar
- Ad Hoc Committee Review of Accounting and Financial Reporting Matters Nearing Completion
- Valeant Plans Restatement Based on Previously Announced Misstatements
- Valeant Explains Circumstances that Resulted in Delay in the Filing of 10-K
- *VALEANT:REQUESTED SCHILLER TENDER RESIGNATION AS A DIRECTOR
- *VALEANT: MISTATEMENTS WOULD REDUCE ’14 EPS BY 9C
- *VALEANT FOUND MISTATEMENTS THAT CUT REPORTED ’14 REV BY $58M
As we detailed earlier:
In the pre-open, Valeant shares were trading down 4.5% before being halted – news pending. We assume this will not be great news… maybe related to the waiver expected to come from lenders or is Anbang bottom-fishing in Biotechs?