1. Identify three examples of poor corporate governance in this case.

2. Why do you think Bill Ackman remained so supportive of Valeant?

3. Critics have described the Valeant board of directors as weak. Is that a fair assessment? Why or why not?

4. Is the release of negative research information by a company that is actively shorting the shares of that company an unethical business practice? Why or why not?

5. Does the fact that Citron Research was proven right in its accusations about Valeant validate its short-selling tactics?

6. How can the newly staffed board of directors begin to restore investor confidence in Valeant (now Bausch Health)?