Ackman to hold call to discuss investment in Valeant

Tue Oct 27, 2015 3:53pm EDT
 
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By Amrutha Penumudi

(Reuters) - Pershing Square Holdings PSH.AS said it would hold a call later this week where its CEO Bill Ackman and other executives would address questions related to the hedge fund's investment in Valeant Pharmaceuticals International (VRX.TO: Quote).

Valeant shares have lost a quarter of their value since last Wednesday, following a report from influential short-seller Citron Research that suggested the Canadian drugmaker may have fraudulently inflated revenues by using its ties with a specialty pharmacy.

On Monday, the Valeant laid out a detailed defense of its relationship with the little-known specialty pharmacy Philidor Rx Services, but its arguments failed to calm all investor concerns.

Ackman, known for his brash bets, swept up 2.1 million additional shares last week even as Valeant shares plunged.

Pershing Square is set to hold the investor call on Oct. 30 at 9 am ET.

 
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks to the audience about Herbalife company  in New York, in this July 22, 2014 file photo.  REUTERS/Eduardo Munoz/Files