Valeant Pharma (VRX) Sees 'Dead Cat Bounce' after CEO Hit with Margin Call

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Go back to Valeant Pharma (VRX) Sees 'Dead Cat Bounce' after CEO Hit with Margin Call

Valeant Issues Statement On Sales Of Company Stock

November 6, 2015 8:01 AM EST

LAVAL, Quebec, Nov. 6, 2015 /PRNewswire/ -- Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) stated today that 1,297,399 shares pledged to Goldman Sachs to secure loans made to chairman and chief executive officer J. Michael Pearson were sold by Goldman Sachs on November 5, 2015.  Goldman Sachs held the shares as collateral for loans extended to Pearson.

As disclosed in the company's proxy statement filed on April 22, 2014, the company's board permitted Pearson to pledge approximately two million shares. As of the company's most recent proxy statement, filed April 9, 2015, those shares... More