Saying Citron Research’s motivation for issuing research that shined a spotlight on potential issues at Valeant Pharmaceuticals, Mike Pearson, Valeant's chief executive officer, characterized the short-seller's research as “similar to someone running into a theater and yelling fire.” The report, issued late last week, accused Valeant of "Enron-like" management and accounting practices. In a much anticipated conference call this morning, Pearson and his management team disclosed the company has requested the SEC investigate Citron and its owner Andrew Left and announced a separate committee to investigate various charges made against the firm, including those raised in a news report over the weekend.
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