Misleading Statements In The Ruane, Cunniff, Goldfarb Annual Meeting Transcript Regarding Valeant And Allergan
- Valeant's largest shareholder's fate has become inextricably intertwined with Valeant. Valeant is 23% of their portfolio and they own 10% of Valeant. They can't exit without ruining their returns.
- This led to a highly desperate defense at the Ruane, Cunniff, Goldfarb annual meeting.
- Article discusses why Pearson is no "Outsider".
- Several inaccurate and misleading statements on Valeant and Allergan from the transcript are pointed out.
- Goldfarb revealed that Valeant's debt resides in the US. Treasury is targeting this tax trick in its regulations that don't require Congress - expect Valeant to take a major hit.