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Hedge Funds

Ackman Apologizes To Clients, 'Deeply Regrets' Disastrous Valeant Investment

by posted 1year ago 245 views
Pershing Square CEO Bill Ackman has apologized to clients for the firm's $4 billion debacle with Canadian pharmaceuticals company Valeant Pharmaceuticals, describing the investment a "huge mistake" and taking responsibility for misjudging both Valeant's management and its aggressive acquisition strategy.