March 9, 2016 / 1:15 PM / 2 years ago

Valeant gives Pershing Square a seat on its board

(Reuters) - Valeant Pharmaceuticals International Inc VRX.N VRX.TO, under scrutiny for its accounting and business practices, said it had given shareholder Pershing Square Capital Management a seat on its board and added two additional directors.

The headquarters of Valeant Pharmaceuticals International Inc., seen in Laval, Quebec November 9 2015. REUTERS/Christinne Muschi

Stephen Fraidin, a veteran Wall Street lawyer who is vice chairman at William Ackman’s Pershing Square, has joined the board, along with Fred Eshelman and Thomas Ross, Valeant said.

Anders Lonner has stepped down as a director, the company said on Wednesday.

Reporting by Ankur Banerjee in Bengaluru; Editing by Ted Kerr

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