Citron's Left discloses short position in Mallinckrodt

Tue Nov 10, 2015 2:06pm EST
 
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Nov 10 (Reuters) - Influential short-seller Citron Research's Andrew Left, who accused Mallinckrodt Plc of being an offender of the reimbursement system, told CNBC on Tuesday that he has a short position on the company's stock.

Mallinckrodt's stock plunged 26 percent on Monday after Left's tweet on the drugmaker.

However, the stock recovered on Tuesday and gained 6 percent by afternoon as Left did not lay out specific accusations against the company.

Citron published a scathing report on Valeant Pharmaceuticals International Inc late October, accusing the Canadian drugmaker of using specialty pharmacies to inflate revenue. Shares plunged 40 percent on the day.

"My short on Valeant has been significantly scaled down from where it was earlier," Left told CNBC on Tuesday. (Reporting by Ankur Banerjee in Bengaluru; Editing by Anil D'Silva)