RE:Don't get me wrongThe US Securities regulators were investigating Valeant on how they clarified fianancial results for seven months before they had to withdraw guidance and do restatements in March 2016. Forgive me for stating the obvious with Valeant, but the shortsellers were right in everything down to the chanel stuffing. So maybe that's why Valeant didn't defend themself ... there was no defence. In fact, subpeonas were needed to get the document information from Valeant and that turned out to be a whole lot more than just Philador. SEC was looking into Valeant's "postentially misleading accounting practices" all the way back to December (reported by wall street journal on May 24), Valeant just didn't tell its investors that they were being investigated. And that was not right, if I was an investor in January, 2016, I would have wanted to know that they were being investigated.
notwrong wrote: I am no admirer of Trump, but I think both former VRX management and the current CXR management made a very wrong strategic mistake for not fighting back short seller firm attacks and taking all the allegations and stories lying down, instead of taking these short seller firms to court and fight it out in the court of law. It was like someone being accused of murder admitting guilt without hiring a lawyer and defending himself/herself in the court of law. Trump went bankrupt 3 or 4 times and there are now over 2,500 court cases pending against him for the breach of contracts. If he had admitted fault in these law suits, much more serious than just allegations and unproven stories, against him lying down without fighting back, he definitely would have gone broke and become penniless, not a billionaire as he is now. Is that a miracle? No, not at all, no matter how one may dislike Trump, one must admit that he has a backbone and is willing to fight to the very end to protect his financial interests, and he succeeded though the odds were against him.