Valeant Pharmaceuticals (VRX) In Accounting Fraud: CitronMark Melin
During the rather hostile takeover engineered by Valeant Pharmaceuticals to acquire Allergan, charges were made by Allergan officials that Valeant was “a house of cards,” however no context was provided. A research report from Citron Research today offers context. In a report that is sending Valeant's stock tumbling, Citron claims Valeant is an Enron-like fraud. They offer as proof hidden corporate connections and undocumented demands for what appear as kickback payments from pharmacies that sell drugs to consumers.
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