Time to cash out. Michael Pearson just bailed on VRX

CNBC just released the following statement. Which tells us that even though he is still a consultant on the inside, that things are going to get significantly worse.
Former Valeant CEO J. Michael Pearson unloaded more of his personal holdings than was originally thought, CNBC has learned.

"According to documents not made public yet but obtained by CNBC, Pearson sold nearly 5 million shares and options for a total of $96.8 million. The news comes the same day that the Sequoia Fund revealed it is completely out of the stock. Sequoia was at one time the largest Valeant shareholder."

 

MP bailed on Valeant last summer when the Philidor mess was exposed.

 

MP still screwed. Kept stock so he could negotiate with "dumb ass" Bill Ackman for rich exit package worth millions.
Knows now to bail further before stock goes to "0". Ackman's hedge fund will suffer more loss as Ackman has now become delusional and think he can wish Valeant's return to fame as he wished herbalife demise.....
Munger is a wise man and cold it as it was "a sewer" and Ackman cannot seem to understand he made a wrong call and was duped by MP.
Why people give money to Ackman can only be explained by "American Greed"

 

Misinformation, real info on that here: http://fortune.com/2016/07/13/valeant-pearson-dump-stock-07-13-16/

 

The speaks volumes! This is definitely a sinking ship that's about to hit rock bottom.

 

Don't forget Andrew Left also made a new bet against Valeant calling it an "obviously zero". And made the stock tumble today! Yay!!

 

Valeant said Pearson exercised options to sell about 4.4 million shares apart from selling about 411,000 shares in June and July.

Pearson, who was replaced by Joseph Papa in May, still holds more than 3.5 million shares and is required to hold 1 million shares for two years following employment termination.

Pearson's share sale were to satisfy tax obligations with respect to the 2015 margin sale conducted by Goldman Sachs and for additional liquidity, the company said.

"While I trimmed my ownership position for personal reasons, I plan on holding my remaining shares until the company recovers and returns to being traded on fundamentals," Pearson said in a statement.

 

Andrew Left says hi.

 

Did anyone hear Bill Ackman on CNBC at noon. He sounded like an idiot. He is feeling sorry for poor MP for selling his stock at such a low price. Claims he had to sell to pay IRS taxes and needed the money since he is out of work and no immediate job prospects.

A billionaire saying he feels for the multi millionaire MP who may not become a billionaire himself.

Sure Bill A felt sad for the 10% Pershing Square he canned 2 weeks ago. Of course they were the poor folks and not millionaire status so he does not feel too sad.

What a a con man Ackman is.

Also he is doctoring movie clips in his office to put on the internet so as to hurt Herbalife since he is loosing money on another stupid bet.

The guy is getting desperate or just more disgusting. American Greed at its worst. Hope SEC locks him up. He would be a good clip on the American Greed Show.

 

Once met him. He is an arrogant SOB. Thinks his sh-t don't stink.

 

Valeant is a joke. The company is OVER. It truly is embarrassing on so many levels, from the reps up to the charades of management....ah yes, the "management". I mean... really.. can anyone possibly pick the worst of the toxic to be in charge? the "consultant", MP sold the company out! Talk about a slap on the ass on the way out the door.
Bottom line: If you are an employee and still believe this company is worth working for, and believe by staying that you will be rewarded or kept, you are a MORON. NO ONE gives a shit about you, period.
The name is so far battered, its beyond recovery. I have to be honest, I love every minute of the downfall. Although I do feel for pp that are blind and have to support a family. For you, GET out and go to a company that at least MAY give a shit about their people. To those that are aware but stay for money, your time is short lived. When the company lays the "productive, valeant minded, best of the best" off, you will be questioned on your integrity and why you stayed so long AFTER the shitshow. You will probably say some bullshit like "money was great "and ", I'm here to make you and me money" attitude. Thinking you will be viewed as some hustler that is a go getter. Sorry but NO. You will be previewed as a loser that didn't have the balls or integrity to peace out of this slumdog company. And then you are done.

 

I expect VRX to go up from here.

 

UP and then DOWN the next day, son!