Investor activist Bill Ackman and his Pershing Square Capital Management (PSH) firm, famous for their fight against Herbalife (HLF) which they deemed a pyramid scheme, would have lost up to USD 2.8 billion.
Holding approximately 18.1 million shares and 9.1 million call options of Valeant Pharmaceuticals International Inc. (VRX), Pershing Square allegedly sold the whole at around USD 11.25 per share, at a loss of approximately 93%.
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