FIRST AIRED: May 23, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
nndb thirty four percent one week plunging share the valiant pharmaceuticals sparking plants one emergency phone call with investors on Monday morning I'm coming into New York somehow calling valiant going and Ron of the pharmaceutical industry and the company is so eager to refute claims of accounting irregularities and too soon investor concerns that current and former managers are going to be on the call along with a representative of eighteen investor activist shareholder value act , now it has been forced to go on defense after research note from an influential short seller citron restart accused the Canadian drug maker of using an accounting Mariah's to create higher sailed the note alleges valiant is using specialty pharmacies to go around health insurance for payment while boosting sales on paper allegations of revenue cheating and improper business relationships aren't the only things behind the stock price being halved in just two months , the practice of exorbitant price hikes for drugs sparking the fury of democratic presidential front runner Hillary Clinton prompting the company to announce it will slow future increases with his entire business strategy under fire and shareholders lining up to sue valiant , and a lot of explaining to do