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August 5, 2014
08:02 EDTAGN, VRXAllergan says Valeant results contain 'inconsistencies and omissions'
Allergan (AGN) commented on Valeant's (VRX) release of its Q2 results. It stated, "Following Valeantís earnings conference call on July 31, 2014, Allerganís financial advisors and forensic accountants analyzed Valeantís reported financial and operating results, identifying numerous inconsistencies and omissions. Further, Valeantís 46-page July 31 second quarter 2014 investor presentation, while extensive in length, failed to provide investors with sufficient relevant information to gauge the true performance of Valeantís business or operations. In Allerganís view, Valeantís ongoing failure to provide complete, fully transparent information and relevant supporting data for its performance remains a significant and growing concern among Allerganís stockholders and the overall investment community. At the same time, there continues to be an overwhelming divergence between Valeantís reported GAAP and non-GAAP results, additionally highlighting the opaqueness of Valeantís financial reporting. Given that a substantial portion of Valeantís hostile exchange offer for Allerganís stock consists of Valeant stock, it is crucial that Allerganís stockholders have all of the information necessary to evaluate the true performance of Valeantís business, and consequently, Valeantís equity."
News For AGN;VRX From The Last 14 Days
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April 9, 2015
11:39 EDTVRXPershing Square, Valeant, Allergan drop lawsuit over buyout
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April 8, 2015
12:17 EDTVRXOn The Fly: Midday Wrap
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