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…
Valeant Pharmaceuticals (VRX) In Accounting Fraud: Citron
Mark Melin
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.