More than 800 pages of documents related to the U.S. Senate Committee’s investigation into Valeant Pharmaceuticals have been released, reports The Globe and Mail.
The Globe and Mail says the collection includes emails between hedge fund manager and Pershing Square CEO Bill Ackman and Valeant’s former chief executive Michael Pearson— Pearson is officially stepping down this month and Perrigo Co.’s Joe Papa is replacing him.
The correspondence between Ackman and Pearson show Ackman tried to help Valeant deal with criticism over its practices and the crisis it was facing, reports The Globe and Mail. For example, one October 2015 email that has been shared shows Ackman warning Pearson by saying, “Every minute that you wait before sending out a press release, another shareholder capitulates on Valeant and does not come back.” In response, Pearson says, “It’s coming.”
For more on the emails, click here. Also, check out MarketWatch’s collection of highlights from the emails.
Read:
Why the trouble at Valeant starts with its board