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13

William Ackman Sells Pershing Fund’s Stake in Valeant

By Tony Seruga

William A. Ackman, right, announced Monday that his firm, Pershing Square Capital Management, had sold its stake — about 27 million shares — in Valeant Pharmaceuticals International.CreditDrew Angerer for The New York Times

William A. Ackman, a billionaire investor, staked his reputation as a savvy stock picker on his ability to oversee a turnaround at Valeant Pharmaceuticals International.

When other hedge funds began to leave Valeant in 2015 as questions about its practices for pricing drugs and its accounting procedures mounted, Mr. Ackman bravely — some might say stubbornly — stood his ground…

William Ackman Sells Pershing Fund’s Stake in Valeant

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