Valeant Pharmaceuticals: About Comments
Mike Pearson - the CEO of Valeant Pharmaceuticals - released a missive of the alphabet inward reply to recent stock cost falls. You tin sack uncovering the AZ Value's wonderful blog. However I proceed coming downwardly to people in addition to their personal credibility. You grab trend also many strange, fifty-fifty implausible numbers at Valeant.
And in that place are reasons to distrust the people to a greater extent than generally.
It would move improve if the Chair of the Audit in addition to Risk Committee of the board did non accept unopen association with past times securities frauds. Let me innovate y'all to Norma Provencio.
Ms Provencio is founder of Provencio Advisory Services, a healthcare consultancy. Ms Provencio has been involved with Valeant for unopen to time. She was on the board of legacy Valeant in addition to signed the original offering missive of the alphabet to Mike Pearson inward 2008.
http://www.justice.gov/criminal/vns/caseup/steinm.html
http://www.sec.gov/litigation/litreleases/2011/lr22204.htm
Here's a bring upward (including an e-mail from Provencio) inward a filing past times the accused Mitchell Stein inward his sentencing hearing, claiming that she knew virtually the transactions at issue:
http://www.freemitchellstein.com/MTC.pdf
Ms Provencio wasn't charged, but she was involved since the early on days of the company, coming inward amongst its main mastermind in addition to serving every bit a Director, Audit Chair, in addition to consultant.
This seems similar a meaningful omission from her biography in addition to raises questions virtually her suitability every bit audit chair for a fellowship every bit complex in addition to acquisitive every bit Valeant.
We produce non accept whatsoever affidavits Ms Provencio made inward her defence strength inward the Signalife matters - though nosotros accept affidavits from other board members who ran the defence strength that Mr Stein controlled all aspects of Signalife in addition to thence they (as directors) were non responsible. [Kindly this is the "asleep at the wheel" defence.]
Ms Provencio was also inward the board of International Aluminum Corp, which went bankrupt at unopen to shout out for dorsum inward the mid-2000s (and is non mentioned either).
Approach to relevant Congressional staffers
There is give-and-take inward the word virtually Valeant perhaps receiving subpoenas concerning drug cost hikes.
If the congressional staffers concerned desire to a greater extent than cloth on Valeant which helps them target their subpoenas in addition to so I tin sack offering unopen to low-level assistance.
John
And in that place are reasons to distrust the people to a greater extent than generally.
It would move improve if the Chair of the Audit in addition to Risk Committee of the board did non accept unopen association with past times securities frauds. Let me innovate y'all to Norma Provencio.
Ms Provencio is founder of Provencio Advisory Services, a healthcare consultancy. Ms Provencio has been involved with Valeant for unopen to time. She was on the board of legacy Valeant in addition to signed the original offering missive of the alphabet to Mike Pearson inward 2008.
http://www.justice.gov/criminal/vns/caseup/steinm.html
http://www.sec.gov/litigation/litreleases/2011/lr22204.htm
Here's a bring upward (including an e-mail from Provencio) inward a filing past times the accused Mitchell Stein inward his sentencing hearing, claiming that she knew virtually the transactions at issue:
http://www.freemitchellstein.com/MTC.pdf
Ms Provencio wasn't charged, but she was involved since the early on days of the company, coming inward amongst its main mastermind in addition to serving every bit a Director, Audit Chair, in addition to consultant.
This seems similar a meaningful omission from her biography in addition to raises questions virtually her suitability every bit audit chair for a fellowship every bit complex in addition to acquisitive every bit Valeant.
We produce non accept whatsoever affidavits Ms Provencio made inward her defence strength inward the Signalife matters - though nosotros accept affidavits from other board members who ran the defence strength that Mr Stein controlled all aspects of Signalife in addition to thence they (as directors) were non responsible. [Kindly this is the "asleep at the wheel" defence.]
Ms Provencio was also inward the board of International Aluminum Corp, which went bankrupt at unopen to shout out for dorsum inward the mid-2000s (and is non mentioned either).
Approach to relevant Congressional staffers
There is give-and-take inward the word virtually Valeant perhaps receiving subpoenas concerning drug cost hikes.
If the congressional staffers concerned desire to a greater extent than cloth on Valeant which helps them target their subpoenas in addition to so I tin sack offering unopen to low-level assistance.
John
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