FIRST AIRED: May 23, 2017

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Transcript

00:00:00
embattled drugmaker valiant saying goodbye to it see elk and putting activist hedge fund manager bill Ackman on the board changes on the latest turn in the tumbled at the company where shares of lost ninety percent of their value since last summer Nagant announcing you will have to restate results after uncovering accounting problems last week it warned it would not meet earnings targets for the year and missed the deadline to file its annual report putting on the road to possibly miss a payment on a thirty billion dollars in debt outgoing CEO Michael Pierson has led the company from a Wall Street Darling to wallstreet pariah for trouble all began last year when valiant came under intense scrutiny for aggressively raising prices on drugs it acquired Bob buying other pharmaceutical companies , and to make matters even worse the discovery of questionable business practices with one of its distributors yelled about it , a lot to make up