Valeant Pharmaceuticals (VRX) In Accounting Fraud: Citron

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Mark Melin
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Valeant 10 21 ownership chart

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. Valeant-controlled Phildor RX sued by R&O Pharmacy over undocumented rebate payments The Citron research piece highlights to investors to Philidor RX Services, a Hatboro, PA…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.