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Actionable news in VRX: VALEANT PHARMACEUTICALS INTERNATIONAL,

Valeant Short Seller Dials Back Warning of Bombshell Report on Monday

Andrew Left, who heads short-selling research firm Citron Research, on Sunday in an interview with The Wall Street Journal said investors shouldn’t “expect anything earth-shattering” when he issues a new report on Canada’s Valeant on Monday. He said he plans to update his view of the company, including with comments about the company’s “corporate culture.” Short sellers wager against stocks.

Mr. Left had tweeted Friday that he planned a new report on Valeant on Monday, following his Oct. 21 report that accused the company of using specialty pharmacies for “phantom sales” to inflate its financial results. In the tweet Friday, he said Citron would “update full story,” adding: “Dirtier than anyone has reported!!”

On Sunday, Mr. Left said didn’t have plans for further major allegations against Valeant, after having consulted with lawyers. His lawyers asked him how sure he was about what he had in mind to publish...


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