Bill Ackman’s $4 Billion Valeant Loss May Be Just The First Two-Thirds Of It
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Losing the first $4 billion may be the hardest. Losing the next $2 billion on a stock you don’t even own anymore, due to an insider-trading lawsuit that you’ve called “baseless,” “shameless” and a waste of money, after spending half a day in the dock under hostile questioning by lawyers from the company that bested him and started this whole damned downward Valeant spiral in the first place? That’s liable to the most painful.
This is not just any lawsuit. Damages in the case may be $2 billion, as noted by the judge who certified the litigation as a class action Wednesday….
The case is entering a crucial stage. Court documents indicate that Mr. Ackman and Mr. Pearson have either been deposed by lawyers for the plaintiffs or will be questioned under oath soon. The documents also show that Mr. Ackman must set aside 12 hours to answer questions…
Bill Ackman’s $4 Billion Valeant Loss May Be Just The First Two-Thirds Of It
