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Actionable news in VRX: VALEANT PHARMACEUTICALS INTERNATIONAL,

Wall Street is going to listen in to Bill Ackman defend his Valeant investment

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Bill Ackman.

Billionaire activist investor Bill Ackman, founder of Pershing Square Capital, is hosting a conference call for investors on Friday morning to discuss his fund's investment in Valeant Pharmaceuticals.

The call will take place at 9 a.m. ET, with Ackman and other Pershing Square portfolio managers and analysts taking questions.

Since taking a position earlier this year, Pershing Square has likely lost more than $1.5 billion on paper on Valeant, the fund's largest stock holding.

Shares of the Canadian drug company have collapsed since Wednesday after the California-based short-selling firm Citron Research published a report asking whether Valeant was operating an Enron-like fraud.

Citron's report focuses on the...


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