Citron Research: Don't Expect Anything Earth-Shattering on Valeant (VRX) Come Monday

Citron Research's Andrew Left is dialing back on what investors should expect when he updates his report on battered Valeant Pharma (NYSE: VRX) on Monday.

During Bill Ackman's 4-hour defense of Valeant on Friday, short seller Left tweeted: "$VRX has a better chance of going to 0 than $HLF EVER will. Citron to update full story on Monday. Dirtier than anyone has reported!!." Shares of Valeant Pharmaceuticals plunged nearly 16% on Friday on fears of the worst following the tweet.

Now Left is telling the Wall Street Journal that investors shouldn't “expect anything earth-shattering” when he issues his new Valeant report on Monday.

The short seller plans to update his view of the company, including comments about the company's "corporate culture."

More from the Journal:

"On Sunday, Mr. Left said didn’t have plans for further major allegations against Valeant, after having consulted with lawyers. His lawyers asked him how sure he was about what he had in mind to publish, on a scale of one to 10, and he was only at “eight,” he said. Mr. Left stressed he stood by his initial allegations.

His lawyers have advised him to “let the story evolve,” Mr. Left said.

You May Also Be Interested In

• Price choppiness and volatility is here to stay - BMO
• AGBA Group Holding (AGBA) selling off into close, down over 17%
• B. Riley Financial (RILY) touching day low of $27, giving back half the day's gains