Ackman Sheds Some Valeant Shares


The hedge fund of William A. Ackman said on Thursday that it had sold some of its shares in Valeant Pharmaceuticals, the embattled drug company that Mr. Ackman earlier this year went to considerable lengths to defend.

The hedge fund, Pershing Square Capital Management, said in a regulatory filing that its stake in Valeant was now equivalent to 8.5 percent of the company’s shares. In November, Pershing said that it had bought shares that increased its stake in Valeant to 9.9 percent of the company, from 5.7 percent. In the sale announced on Thursday, Pershing Square disposed of roughly five million shares…

Ackman Sheds Some Valeant Shares

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