Valeant shares plunge on short-seller report

Wed Oct 21, 2015 10:36am EDT
 
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Oct 21 (Reuters) - Shares of Valeant Pharmaceuticals International Inc tumbled by nearly 28 percent after a short-seller released a report critical of the company, causing the stock to be temporarily halted due to the decline.

A report by Citron Research, a short-selling firm run by Andrew Left, based in California, hit shares hard shortly after 10 a.m. EDT (1400 GMT). After reopening, the stock was down 21 percent to $115.50 on heavy volume. The company was not immediately available for comment. (Reporting by David Gaffen; Editing by Jeffrey Benkoe)