Additional Charges Against Valeant Pharma (VRX) or Former Execs Cannot Be Ruled Out - Wells Fargo's Maris
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Wells Fargo analyst David Maris weighed in on Valeant Pharma (NYSE: VRX) after today's DOJ press conference. Maris said based on the comments additional charges against Valeant or former Valeant executives cannot be ruled out,
Maris commented, "Earlier in the day, a Valeant spokesperson indicated that given the charges brought today involved fraud against Valeant and in their view it is difficult to be a victim and guilty at the same time, that today's news was somehow good news for Valeant, or at least not as bad as it could have been. Given Mr. Bharara's statement, we believe it is premature for investors to believe that charges against the company and/or former executives are not in their future. On the contrary, we believe based on today's statements by Mr. Bharara, additional charges against Valeant or former Valeant executives cannot be ruled out, given this well-resourced and ongoing investigation."
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