Experimental feature

Listen to this article

00:00
00:00
Experimental feature

Shares in Valeant tumbled 7 per cent in after-hours trading after CNBC reported that hedge fund tycoon Bill Ackman, the company’s largest shareholder, had sold his stake of 27.2m shares.

Mr Ackman had been Valeant’s biggest cheerleader and strengthened his ties with the company even after a series of scandals over its accounting and pricing policies.

Last year, he became a director of the company but will now relinquish his seat on the board, according to CNBC.

Get alerts on Valeant when a new story is published

Copyright The Financial Times Limited 2018. All rights reserved.

Comments have not been enabled for this article.

Follow the topics in this article