Some Day, After Years Of Therapy, Bill Ackman And Valeant Are Going To Laugh About All Of This

Today is not that day.
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Bill Ackman the hedge fund manager is a fighter. A man of passion who's never been afraid to back down from a scary or seemingly unwinnable situation or call people out on their sh*t--consequences be damned--when he believes in the depths of his soul he's right about something.

In the past, he's been known to "kick [his] chief regulator in the nuts"; cry in public over a failed proxy battle; get extremely heated to the point of his face becoming "flushed," his eyes "misty" when meeting with SEC investigators; and erupt on directors of companies with such passion that his "furious outburst" could be "heard in an outside hallway." He's been willing to lose comical amounts of money on his Herbalife (NYSE: HLF) trade (and have Carl Icahn tell CNBC viewers about the time Ackman came to his office "almost sobbing") on the conviction that Herbalife will one day, some day be shut down (and has pledged to go to the "ends of the earth" to make sure that happens). And, of late, he's had a daily appointment to get kicked in the testicles vis-à-vis his latest big investment, Valeant Pharmaceuticals (NYSE: VRX).

He's a battle-worn vet who isn't gonna bristle the moment things get rough or turn his back on his beliefs because it seems like the entire world is transpiring against him or he's lost billions of dollars. He's never been one to avoid controversy and whatever doesn't kill him makes him stronger. But real talk? He could've dealt without this:

A U.S. judge said Valeant Pharmaceuticals International Inc and activist hedge fund manager William Ackman must face a lawsuit accusing them of insider trading in Allergan Inc before making an unsuccessful takeover bid for the maker of Botox. In a Nov. 9 decision, U.S. District Judge David Carter in Santa Ana, California, rejected arguments by Valeant, Ackman and Ackman's Pershing Square Capital Management that the lawsuit should be dismissed because their activity was not fraudulent...Valeant and Ackman said there was no intent to defraud, and that they breached no duties by sharing information before the takeover bid became public. But the judge, without ruling on the merits, found "serious questions" as to whether "substantial steps" had been taken toward a possible hostile bid, which would have required Valeant to disclose more or Ackman to stop his buying.

But, like he's told Valeant investors the dark days will pay off. And when all of this is over, they're all going to get an apartment together. Meanwhile, anyone else wanna take a shot? For one day only, you get a free one. Plaster his lobby with photos of Carl Icahn? Just do your your worst. This is the kind of stuff that keeps him at his fighting weight

Valeant, Ackman must face U.S. insider trading lawsuit [Reuters]

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