for valeant ceo mike pearson.st cuts and shares have been halted pending an announcement from the company. ♪ david: just under 30 minutes away from the opening bell in new york. this is bloomberg go. i'm david westin here with stephanie ruhle and jonathan ferro. manages 450is team billion in fixed income assets and bloomberg deals reporter at hammond joining us. we will talk to matt miller in a moment but we have to talk about valeant. replaced theeant ceo. it names ackerman to the board. valeant to replace the chief executive. byected to file the 10k form april 29. stephanie: you have to put into perspective replacing mike pearson. before he went out on medical leave in december he was the chairman and ceo. during that time the board had a supercommittee reviewing management and even though there were questions, should we bring mike pearson back? that is the guy who created the business model. the guy behind the partnership with phil adore. is now to replace him, this wow. david: most in or had they brought him b

>> there is a succession planned for pearson. lot of things about misstatements in financial reporting, disclosure controls and why the 10k has been delayed. this is tied to potentially triggering defaults on $30 billion worth of debt. this is a quote from pearson, while we regret the circumstances that resulted in the delay of our 10k filing, we are committed to filing before april 29th, 2016. that's much stronger language than last week. so that is one major thing here in the release. they are also talking about why they've had these problems with financial reporting. quoting improper conduct of the company's former chief financial officer and former corporate controller. which resulted in the provision of incorrect information. so, a lot of information here in the release, but really the main headline, ackman joining the board, a ceo search at valeant. we'll bring you more headlines as we get them. >> thank you, meg. we talked last week about what it would mean if they missed that deadline. >> where is the audit committee. thi

doni: we do not have a new ceo yet, and pearson is going to be staying in until they find one. that the board has asked the former cfo, howard schiller, who is still on the board, to resign because they have accused him of financial impropriety, which is leading them to restate some of the results. >> shares in valeant rising after a second day of news that michael pearson will be stepping down. hours after that news, pearson was said to have sat side-by-side bill ackman and how they will adjust hundreds of workers in the new jersey office. what do we know about what they said? drew: months ago bill ackman was talking about how they were involved and interested. it seems to be mostly passive. bill ackman himself is sitting on this board after yesterday's announcement and doing a town hall style meeting with mike pearson, who has been outed as ceo and chairman of the company. they are saying there will not be major layoffs. debt is the priority to pay down here. they are looking for somebody to replace pearson as soon as possible. >> what is happening to former cfo howard schill

doni: we do not have a new ceo yet, and pearson is going to be staying in until they find one. that the board has asked the former cfo, howard schiller, who is still on the board, to resign because they have accused him of financial impropriety, which is leading them to restate some of the results. >> shares in valeant rising after a second day of news that michael pearson will be stepping down. hours after that news, pearson was said to have sat side-by-side with billionaire investor bill ackman and how they will adjust hundreds of workers in the new jersey office. what do we know about what they said? drew: months ago bill ackman was talking about how they were involved and interested. it seems to be mostly passive. bill ackman himself is sitting on this board after yesterday's announcement and doing a town hall style meeting with mike pearson, who has been outed as ceo and chairman of the company. they are saying there will not be major layoffs. debt is the priority to pay down here. they are looking for somebody to replace pearson as soon as possible. >> what is happening t

pearson was, quote, not a mutual decision.s board of directors was concerned about the organizational tone, and decided to oust pearson during a series of phone calls regarding the board over the weekend that the board informed pearson that this is what was happening. that they were taking a series of steps, including initiating that immediate search for a ceo. and that he was no longer in the company's long-term plans. they did send out that press release earlier today, of course, stating that they were looking for a new ceo and that mr. pearson would stay on until that person was appointed. we also know that bill ackman personally will take a seat on valiant's board. i have attempted to obviously contact mr. ackman this morning, as well. that's been unsuccessful. just a little color for you, in the way that all of this transpired over the weekend, concerned about the organizationel judge tone and that it was not a mutual decision for mr. pearson to leave his job as ceo of that company, carl. >> stock obviously responding in

meg lays out the problems facing the ceo michael pearson. >> reporter: three months since the street heard from mike pearson and investors will be listening closely tomorrow for clues about the drugmaker's future. his return at the end of the february from a two-month medical leave of absence recovering from severe pneumonia and other complications. analysts say he needs to make sure that the company has no more surprises in store. valeant's stock has lost more than 60% in the last year after a series of seemingly never ending setbacks. scrutiny over federal investigations, accusations of accounting fraud and finally pearson's illness. the return brought negative surprises. valeant postponed the fourth quarter earnings release and conference call and the s.e.v. filing on last year's results will be delayed even further. news of another federal investigation came to light that day depressing shares even more. investors are awaiting the outcome of a specialty pharmacy answering accounting questions and a delayed 10-k. the company is focused on paying down the $31 billion in debt and ma

ceo michael pearson is learning to walk again after an ofreme about -- about pneumonia.l us what the mood is like at valeant. >> according to our source, michael pearson has had a couple meetings with top senior management. everyone is waiting to hear what he will say. he has not talked publicly much recently. internally, he is telling people the it is not as bad, business is doing ok, it is not as bad as people think on the outside. there's been speculation about they have a lot of debt. the have to pay it down, will that be a problem? in meetings, he was saying we have a tremendous cash flow and we are not going to go bankrupt. most of the business is doing well. he mentioned a few small businesses he needed to take action on. his opinion is a positive picture. david: did he talk anymore about his sickness? there's been a lot of speculation. robert: he really did address that head on, talking in detail about what happened to him. he said come in fact, it was a severe case of pneumonia. he went to the hospital, thought and discovers his lungs are full of fluid. he was a

hampton pearson is live for us in d.c.gns point to merrick garland. i believe he is 62 years old. he is the chief justice of the appeals court here in washington d.c. described as a moderate and you heard in the stories before the break chuck schumer saying this is a guy that's a consensus choice for moderate republicans and democrats but of course in terms of the brewing confirmation fight that's ahead, number one with the republicans taking the position that it's not even likely he will get a hearing or even an audience with the chairman of the judiciary committee. all of those cards beginning to played out once president obama sends the name of this nominee to the senate for possible confirmation. again, in this political year, the supreme court of course has

i can't do that. >> pearson is here almost every day. >> having the cancer, i just do a few people a day. >> despite draining and constant chemotherapy treatments she refuses to quit doing hair. >> how do you do that. like god just carrying me through this whole thing. >> even after losing her own. >> i always figured hair is just one part of you, you know. it takes more than your hair. it is your heart. >> pearson is surrounded with support from her fiance who shaved his head to the generations of customers she served over 30 years, so many times when life is submit before and after pearson focuses on the now. her faith and work. >> the cancer will win if you stop. you know. in this life you have to keep fighting. >> pearson is now working to help spread the word and encouraging women to get regular check ups and mammograms. >> first alert traffic on cleveland 19 news is sponsored by ford. >> all right. here is a live look at it is smooth sailing out there. 480 eastbound just before stearns road out by the north olmsted line there's an accident eastbound lanes and chagrin falls on 4

>> we do not have a new ceo yet, and pearson is going to be staying in until they find one. that the board has asked the former cfo, howard schiller, who is still on the board to resign because they , have accused him of financial impropriety which is leading , them to restate some of the results. >> shares in valeant rising after a second day of news that michael pearson will be stepping down. hours after that news, pearson was said to have sat side-by-side bill ackman and how they will adjust hundreds of workers in the new jersey office. what do we know about what they said? >> months ago bill ackman was talking about how they were involved and interested. it seems to be mostly passive. bill ackman himself is sitting on this board after yesterday's announcement and doing a town hall style meeting with mike pearson, who has been outed as ceo and chairman of the company. they are saying there will not be major layoffs. debt is the priority to pay down here. they are looking for somebody to replace pearson as soon as possible. >> what is happening to former cfo howard schille

hou how's pearson doing?een doing well since he got back. >> did they get new numbers in the conference call? >> he said moments ago he has to earn management credibility back. he said it starts with me. we have to deliver on our commitments. the world has changed to some degree since december. we had underperforming businesses, that's on us. we have to meet or exceed guidance. it's a bit of starting over point for me and the company. if we don't deliver, that's on me. >> valeant 2.0. >> i'm making sure we do deliver. >> were you assured by that. >> what's the bigger fire? that or lind today and their ongoing concern. >> they have been trying to make the most of it, like many oil and gas companies. trying to figure out what assets to sell. they bought that buried petroleum. that was a bad buy. so much. with oil going down, you have to be careful. you will start seeing rio come down. bhp, all these companies. they're up so much. you look at pioneer, they did a guy againic secondary at 116. up to 135. you will

. >> valeant ceo mike pearson is out.i, meg. >> the stock of valeant is up finally turning around what's been a terrible run in the last couple of weeks with the news of the shake-up at the top. big ackman and pearson on the way out. they are asking will they start to sell assets, we look at the most recognizable brands, i'm hearing from folks, there is a lot of interest in some of the assets, the question is are the things that valeant wants to sell what people want to buy, you see soft lens and renew, under bausch and lomb. xifaxon, people questioning when we'll get news on these. who will succeed mike pearson, ackman looking for a world class health executive. these this names they are batting around, folks are saying if he would come in, that would lend experience to the board. he used to be on the board and since left it is completely other question. brent saunders is another name a lot of people talk about. he is a protoje of hassan, a potential successor to ian reed over there. would he want to turn around valeant?

doni: we do not have a new ceo yet, and pearson is going to be staying in until they find one. that the board has asked the former cfo, howard schiller, who is still on the board, to resign because they have accused him of financial impropriety, which is leading them to restate some of the results. >> shares in valeant rising after a second day of news that michael pearson will be stepping down. hours after that news, pearson was said to have sat side-by-side bill ackman and how they will adjust hundreds of workers in the new jersey office. what do we know about what they said? drew: months ago bill ackman was talking about how they were involved and interested. it seems to be mostly passive. bill ackman himself is sitting on this board after yesterday's announcement and doing a town hall style meeting with mike pearson, who has been outed as ceo and chairman of the company. they are saying there will not be major layoffs. debt is the priority to pay down here. they are looking for somebody to replace pearson as soon as possible. >> what is happening to former cfo howard schill

trump's national campaign spokesperson, katrina pearson. thank you for being here. make of what we heard from michelle. >> i think there is a lot of confusion going on. you heard michelle admit herself she didn't see who grabbed her. it was another reporter that said it was corey. of course there was a breitbart article that says there could bemis taken identity. >> that was based on the first tape we showed where there was the red arrow. they saw the tape and they said it left room for discussion. actually in their conclusion they said it is unlikely luwendowski caused the injuries. >> even the new video is not conclusive. he raises his hands, but there is no physical contact there. >> i don't know if that's right, kat. >> what i can tell you isxd this, megyn, the allegation that corey reached out and grabbed a reporter and threw her on the ground -- >> she didn't say she was thrown on the ground. >> she has said several things. it changed over the course of the last few hours. i will tell you. the allegations came out that corey reached o a reporter and threw her

thank you for being here. >> we want to turn to trump campaign national spokesperson katrina pearson us next with her response fair and balanced. Ñixd xd >>> this is a fox news alert. i'm patricia stark in new york. protesters shutting down a donald trump rally last night. the front runner can selling the event as hoards of protestors were outside. the crowd was heard cheering as word of the scraped event was spread. some yelling "we stopped trump." those who oppose him don't like his decisive comments. there were some incidents of violence in the arena where the rally was supposed to be held. there was no word of anyone being seriously hurt. however, we do know five people were arrested. speaking with fox's sean hannity, the donald made it clear he was happy with his decision to call off the event saying if he hadn't things could have ended up much worse. >> we are getting a lot of credit for cancelling. it is easier to go there. this was a very organized group and not a good group that stifled the first amendment rights. and it is interesting that if we ever did that to them it wou

(kandra pearson/dressed up)"we had girls all over the place." they said they posed for a photo with some of them until a staffer said they couldn't do that. they said they quickly apologized."we said, "thank you for letting us know. we won't do that the rest of the night." we didn't the rest of the night."but at intermission as they bought concessions, they say a representative of the production company approached them."they said you need to stop. stop acting like princesses."five minutes later, they said, security came over and asked them to leave."they said they were uncomfortable with our presence there, and that was it.""i felt singled out. i humiliated in front of all these people."a spokesman for the arena defended the move, saying in a statement,"their costumes and characters were so real that they disrupted the live performance due to the volume of other patrons seeking to take photographs.at intermission, guest services staff asked them to leave the arena to prevent further disturbances."he added, "it was unfortunate that they became to

welcome back from mike pearson. a company facing multiple challenges. in this week's issue of bloomberg's this week, weighing the pressure and giving background to pearson. moment, how at the much of it is self-created? >> this is a guy who said i have a new model for the industry. the department wasted too much money on drugs, it is better to buy drugs. it worked really well for a long time but now falling apart. was a management consultant basically and then they asked him to come in as ceo because he was doing a good job. what do you think his final goal is. is adjust ticket valeant out of trouble? >> absolutely. he wants to be one of the top five pharmaceutical companies by this year. i don't know if he is going to make it. >> not everyone is a fan. warren buffett, a longtime partner described his practices as the plea of moral. -- as deeply immoral. >> hillary clinton is running a ampaign, saying we have to do -- we have to put a stop to this. i think that is over and a big problem for mike pearson. >> obviously he has been on medical leave. >> the

conference call with michael pearson. still ahead, financing with art.ers are putting up their valuable artwork as collateral. that is coming up next. ♪ vonnie: we are a look at the south african rand. it reached 16 per u.s. dollar. it is up over 3%. this continues as the finance minister and the directors for priority claim an investigation. they are saying that they will try to ensure that they answer questions. speaking of emerging-market currencies, we open with the russians currency up 71. that is being strengthened by 1.6% of the u.s. dollar. right, in today's pursuits, we're talking about art as collateral. if you are one of the lucky owners of a masterpiece, athena art financers is allowing collectors of high-end art to cash in on the liquidity of their collections. to borrow.re eager they join us now to discuss. thank you. what kind of demand is there for this kind of service? might tend to need liquidity? in theliquidity is market perception to balance the sheet. we seeing more and more of our collections coming to the idea that they are invest

when you look at the chain of events, we know mike pearson had been on leave for two months.e know that they had announced a restatement and subsequently withdrew their 2016 guidance, and then he comes back and they announce a call that they had canceled. the next day, he is on the phone with a handful of analyst who all happen to have buy ratings on the stock. carol: and the day after. he talked about greater transparency for the company. so many questions about the company, relationships with other companies. why would you do something like this, especially when he says he wants to be more transparent to investors? david: if you want to come back and set a new tone, this is not the way. even if there was no wrongdoing, the optics do not look good. matter.arket, optics perceptions matter. there is obviously a credibility gap here. you are coming back after a two-month absence, and you want to get off on the right foot. this is not going to do it, at a minimum. carol: do you feel like you got a new information that has been useful since he came back? david: personally, no. ce

took over while pearson was on medical leave. he is on the board.ompany today accusing him of improper conduct, along with the company's corporate controller. >> they're throwing him under the bus, essentially, right? it has that feel to it today. >> it certainly does, pointing out the corporate controller and ceo were the reasons for the misstatements. and the tone at valeant and the board saying that's part of the reason that led them into this huge mess here. shiller, in a statement from his lawyers, saying that that was completely inaccurate. he's saying at no time did i engage in improper conduct. and saying as such, he declines to resign from the board. so this is kind of the argument that's playing out today. and, of course, what happens next, who is going to be taking over this role as ceo. and what assets are they going to sell? this is the other thing i'm h e hearing. people talking about taking off. a lot more coming. >> you had the -- some reporting i did earlier that this move to replace pearson was not a mutual decision. that there wer

as hampton pearson reports from tuesday, the focus is on texas for good reason. >> reporte >> after a lot of careful deliberation, i decided to vote for myself. >> reporter: he had the luxury of casting his super tuesday ballot in his houston precinct. crews told a media horde he expects to win and is ready the take donald trump, one-on-one. >> it's all about delegates. donald trump is likely to have a whole bunch of delegates. we're likely to have a whole bunch and i think there will be a big drop off for the rest of the field. >> reporter: texas is the bigst super tuesday prize. 155 delegates up for grabs on the republican side. to get all the delegates, cruz needs to get 50% of the vote. voe voters we talk to are fascinated and furious w donal trump. >> he's the one that will turn this country around. he has no endearment to anybody. the more the people talk bad about him, the more people love him. >> we do not know what he stands for because he doesn't tell us what he stands for. he just says he's going to make us rich again. make us great again. he puts platitudes out there witho

>> we do not have a new ceo yet, and pearson is going to be staying in until they find one.ow that the board has asked the former cfo, howard schiller, to resign because they have accused him of financial after friday, which is leading them to restate some of the results. >> shares in valeant rising after a second day of news that michael pearson will be stepping down. hours after that news, pearson have satto upset south b side-by-side bill ackman and how they will adjust hundreds of workers in the new jersey office. what do we know about what they said? >> months ago bill ackman was talking about how they were involved and interested. bill ackman himself is sitting on this board after yesterday's announcement and doing a town hall style meeting with mike pearson, who has been outed as ceo and chairman of the company. they are saying there will not be major layoffs. debt is the priority to pay down here. they are looking for somebody to replace pearson as soon as possible. >> what is happening to former cfo howard schiller? can he be made to leave the board? >> it starts to

michael pearson was a billionaire before last december.nths, he has lost a boatload of cash. johnson, aok at company that makes nutritional products for babies and mothers expecting to have babies. -- it has working been reported, looking at outside interests. the stock is up 10% in the premarket. neutral, the analyst at tiffany's citing the recent low. evaluations call has come up too quickly and you can see it come up slightly in the premarket. the race to the white house, all eyes are on the primaries where the focus on ohio and marco rubio and john thish's -- can they take -- takedown donald trump. donald trump is expected to take the victory in all states except ohio, where governor kasich is expected to win. still holds an substantial lead in delegates over bernie sanders, stressing the importance of today's elections, meaning it is super important to bring in mark calpine journey us now. elizabeth warren chiming in with this anti-trunk movement, saying how dangerous mr. trump to be for the american people. able to would not be tell

the ceo michael pearson is back to work.stor backing pearson during an interview on closing bell yesterday. listen. >> he's incredibly, incredibly driven. incredibly smart. he's a great problem solver and we're solving problems as we speak, as the model changes and shifts. he's about, you know, 80% back. he really was sick. and he's finding his energy as we speak. it's surprising how quickly he's attacked and having come back. and really being as determined as he can be to the shareholders to solve his problems. so we think mike is the right guy for the job. >> pearson has to be all that because valeant's market has more than halved since act. >>> apple's response to the department of justice is due today. the latest chapter in the doj's case against the tech giant. unlocking the phone of one of the san bernardino terrorists could provide more information about the shooter and plot behind the deadly attack. apple claims this breaches the promise protection. they are due in federal court next week. amazon will be launching a

pearson, he had been in vietnam for just 24 days before he was killed. so both of these notes were left in august of 1986. i assume they're from the same woman, although they both touch on two very different topics. in one, she's describing about how she was a nurse in vietnam, and she signs it, lieutenant dee baker, rn. the other one is talking about her husband tom, who died in vietnam, she signs it dana. the one when she was a nurse starts off, i went to vietnam to heal and came home violently wounded. i still awaken from nightmares about those we couldn't save. i went to vietnam to heal and came home to grieve for those who went home blind, paralyzed, mindless. i went to vietnam to heal and discovered i am not god. and then the other one, she talks about her husband tom. we would have been married 21 years this year. they got married when he was on leave in san diego and i assume they both went back to the war where he was killed. and so they were only married a very short time, but she saved this letter in honor of him 21 years later. we get a lot o

i'm sure 12 months ago pearson would have used the same phrases.ss, what percentage of business is it, need to figure what percentage of earnings is it. most importantly is this. you have a franchise drug that's $36,000 a vial, that is your business. that you've not had critical testing on, a proper double blind clinical test to get to synthetic against the current care. not once have they done there and instead of taking the time and calling into cnbc ant sit with the scientists and do proper studies and data so americans can stop overpay for your drug that you milk and milk out of the system. >> mark, a response? >> one. things that we've done since we've acquired akhtar and really all of the products that we have in our portfolio, we acquire products and we invest in them. that means investing in clinical and health economic data and in fact we just reported that we had over two dozen presentations. over two-thirds were actually for akhtar so we have consistently invested in this and this is a product that's considered standard of care for patie

they're looking for someone to replace pearson as soon as possible.a bit of the q&a session. betty: no layoffs. ramy: some, just no major layoffs. betty: some asset sales? drew: they have been talking about getting rid of non-core assets. was built through acquisitions. you pile up all sorts of things. they're not talking about selling off a profitable division. they floated the idea of gradual ipo in bausch & lomb, the eye care business. maintaining stakes there, but selling 20% of the shares to raise cash and pay debt. they are sitting on $31 billion in debt. they have to do something. mark: what is happening to howard schiller? can he be made to leave the board? drew: it starts to get messy. howard schiller, the former cfo and current board member. they accused him of impropriety in some of the restatements. they have asked him to resign. he has refused. as long as he is considered an "qualified" board member, which as a former manager and cfo of the company, he is, it is difficult for them to get rid of him. they need a super majority or the share

our hampton pearson is live in houston with the latest on the texas math.ood morning. >> reporter: hi, sara, they expect a texas-sized record turnout on the republican side. we're in river oaks, where in about an hour ted cruz is expected to come here and cast his ballot. it's our second polling stop. what we've seen so far, even before the polls opened and they barely have been open two hours, people were waiting outside to get in. this particular polling place, which is mixed, where there are both republicans and democrats voting, they have been busy right from the get go. republicans outnumbering the democrat voters here by about 8/1. this is really make or break for ted cruz. he has to win texas to try and stay viable and in hopes of going -- knocking off marco rubio and going one-on-one with donald trump. that was his message at his closing rally last night here in houston. cruz telling his followers he needs a win here in texas to really send him on his way. >> if donald trump is the nominee, hilly likely wins. and our company is the only campaign tha

yesterday was michael pearson's first day back.n this day came, it was going to be a great time of sort of knowing what was coming for the company, fewer shoes to drop, and the shoes kept dropping yesterday. from the news that they were splitting the ceo and chairman roles, people thought that was good in terms of governance. but withdrawing the guidance, postponing their earnings call. later in the day, as analysts were clamoring to talk with mike pearson, scheduling an impromptu analyst call, and withdrawing that when the media caught wind of it, when folks began to complain about regular fd, moody's coming out saying their debt is under review for a downgrade. they have $31 billion in debt. and then, of course, this new s.e.c. investigation into what's going on. a lot of folks think that's probably around fill-a-door. they also came out last night and said they're not going to be able to file their 10k in the 15-day period they had for the delay, because they're continuing that fill-a-door investigation. until they wrap that up,

jim cramer tweeting out michael pearson and bill ackman. you're watching "worldwide exchange" on cnbc, first in business worldwide. cathy's gotten used to the smell of lingering garbage... ...in her kitchen yup, she's gone noseblind. she thinks it smells fine, but her guests smell this. ding, flies, meow febreze air effects heavy duty has up to... ...two times the odor-eliminating power to... ...remove odors you've done noseblind to [inhales] mmm. use febreze air effects, till it's fresh and try febreze small spaces... ...to continuously eliminate up to two times the odors... ...for 30 days febreze small spaces and air effects, two more ways... [inhale + exhale mnemonic] to breathe happy. in new york state, we believe tomorrow starts today. all across the state, the economy is growing, with creative new business incentives, the lowest taxes in decades, and new infrastructure for a new generation attracting the talent and companies of tomorrow. like in rochester, with world-class botox. and in buffalo, where medicine meets the future. let us

of course, ceo mike pearson came back yesterday. just yesterday the company announcing its withdrawing its guidance for the year. they are postponing earnings call suppose d to be held yesterday morning saying they are not going to file their 10 k within a 15-day extension as they continue their investigation and announcing a new sec investigation, the subpoena they received at the end of last year. what moer could happen today? hillary clinton released a new campaign ad specifically targeting valeant. take a look. >> and the company is called va va valeant pharmaceuticals and we're going to make sure it's stopped. i'm hillary clinton and approve this message. >> she was referring to a migraine drug raised from $18 a vile to $1400. they are saying there is a generic version and most patients take that and followed up in a new statement and checked in with the patient and she is covered by insurance. we have shares rebound a bit. they just popped slightly into the green early today. putting out a note saying analysts there talked wit

mark: can michael pearson turn the ship around?there is a question of does this guy -- is he the cause of millions problems and also the salute -- valeant's problems and also the solutions? an sec investigation, 20% down on the week monday and part of tuesday, it is a lot. vonnie: still ahead on bloomberg television, yesterday's hearing on the hill between apple and the fbi. we talk about the next move on bloomberg markets. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. when it comes to the fithings you love,. you want more. love romance? get lost in every embrace. into sports? follow

ceo mike pearson is stepping down after a series a call made in company shares.e're joined now by two of our in-house experts. let me turn to you and give us the very basics of what exactly transpired this morning. has two seats but we do not know who is ceo yet. >> that is right. we do not have a new ceo yet here pearson will be staying in until they found -- until they find one. they asked the former cfo, howard schiller, who is still on the board to design because they accused him of financial impropriety. this is a 24-year-old goldman sachs veteran who had just been accused of financial impropriety. because heis this did not get it filed quickly enough? i think there is more to the story. he indicated there is a lot of digging to do. there is certainly more at stake here. afterwas it inevitable last week's massive selloff, was it only a matter of time before fall on histo sword? today, stock reaction says everything. does.it the stock has been surging on the news. it is not clear if there is a fell on the sword here. i do not know what is inevitable with the

hampton pearson on the supreme court this morning. >>> ahead of next week's wisconsin prime minister,r endorsing ted cruz for the gop nomination. saying the texas senator is in the best position to win the november presidential election. >>> pandora's founder returning as ceo. is that a good thing for the business? we'll talk to an analyst who says the transition reveals inherent flaws in the company's strategy. i'm only in my 60's. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, it helps pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. to me, relationships matter. i've been with my doctor

. >> mike pearson finally coming back to the helm yesterday. it's been quite a two days back for him. just yesterday withdrawing the company's guidance after pearson coming back. delaying fourth quarter earnings. . late late night in a filing saying they are not going to file their 10a within their 15-day extension period as they continue this investigation into filla door. they are facing a scc potential violation and they have $30 billion in debt. what else could happen to valia valiant. >> hillary clinton can happen. she is releasing a campaign ad today specifically targeting valiant whose migraine drug went up. >> the company is called valiant pharmaceuticals. i'm going after them. this is predatory pricing and we're going to make sure it is stopped. i'm hillary clinton and i approve this message? we remember hillary clinton's tweet it was the tweet heard around the world for the biotech industry last september on drug pricing. valiant named specifically. valiant says there is a jen airgs eric version of that drug available. most people are

>> we do not have a new ceo yet, and pearson will be staying in until they find one.hiller,r cfo, howard has been asked to resign because they have accused him of financial impropriety. >> shares in valeant rising of news thatd day michael pearson will be stepping down. ackman will adjust hundreds of workers in the new jersey office. what do we know about what they said? >> months ago bill ackman was talking about how they were involved in interest -- and interested in bill ackman himself is sitting on this board after yesterday's announcement and doing a town hall style meeting with mike pearson, who has been outed as ceo and chairman of the company. they are saying there will not be major layoffs. they are looking for somebody to replace pearson as soon as possible. >> what is happening to former cfo howard shiller? can he be made to leave the board? starts to get really messy. howard shiller, former cfo and current board member, they have accused him of impropriety and how everything is handled with some of the restatements there and have asked him to resign from t

i watched big ackman and ceo mike pearson tag team the positive story. but my rule is severe. i still hadn't heard anything indicating that all of the accounting was kosher. i never heard of a reputation of what citron was saying. as it plummeted down to 70 i was glad my rule hadn't failed me and then walgreens announced a deal with valiant and the stock went up to 15 because of walgreens good housekeeping seal of approval. as we much as we like and respect walgreens, my charitable trust owns it. the valiant stock drifted down as owing to the pearson stepping aside because of illness and some real negative publicity from hillary clinton including this gem. >> it's called valiant pharmaceuticals. i'm going after them. this is predatory pricing. we'll make sure it is stopped. i'm hillary clinton and i approve this message. >> the guy who said that there's no such thing as bad publicity had not watched that message. anyway, then came a second accounting bombshell. the company said it recognized too much profit in 2014. then valiant exonerated itself. the s.e.c. does the investiga

ackman is doing a town hall style meeting with mike pearson, who is out as ceo and chairman of the companyey are saying, there will not be major layoffs, and they're looking for someone to replace him as soon as possible. >> what is happening to howard schiller? can he be made to leave the board? it starts to get really messy. former board member, cfo, is accused of handling of some statements. bonus thatmillion in he is sitting on. it is probably easier to fight that from inside the board than outside. insharp shares tumbling tokyo. .early a month the bailout deal risk that the-- a deal could fall apart? >> there is. we are coming up on a month it was approved. it is a growing list of issues that foxconn is going through before it signs the defensive agreement. they are looking at some bones loans that has -- sharp has. they are also looking at the performance in the quarter. there are reports that they may try to decrease the amount of money they are putting into sharp in additional equities. ast was originally proposed a hundred ¥49. we may see that come down a bit. anwhen can we expect

. >> all right hampton pearson. john harang gewood, thanks to y this super tuesday.let's talk about this hillary clinton attack ad on valeant. i do not remember a political candidate a front runner on either side launching such a specific attack on a publicly traded company maybe ever. correct me if i'm wrong. >> teddy roosevelt did this in all three of the elections he ran to great effect. he even defected from his party to continue to do it. >> so 100 years ago or whatever but still can you buy valeant? can you buy a drug company stock today? >> you can't. you're either underweight the group or short these things because she's going after a lot of different companies. they attacked the pbm industry as well if you recall but i also don't think if trump wins or is nominated if he's in, he's not that friendly to health care as well so i think after five years of this sector out performing i think they take a pause and can revisit them. >> i think hilary will say whatever she has to to get elected and win the battle and this is just one more example and i think once we

hampton pearson is live for us in d.c. on this breaking story. >> carl as you said all signs point to merrick garland. i believe he is 62 years old. he is the chief justice of the appeals court here in washington d.c. described as a moderate and you heard in the stories before the break chuck schumer saying this is a guy that's a consensus choice for moderate republicans and democrats but of course in terms of the brewing confirmation fight that's ahead, number one with the republicans taking the position that it's not even likely he will get a hearing or even an audience with the chairman of the judiciary committee. all of those cards beginning to played out once president obama sends the name of this nominee to the senate for possible confirmation. again, in this political year, the supreme court of course has become part of the debate on the campaign trail. in our most recent wall street journal nbc poll, 48%, a pl pleuralty of those said the senate should take action to a nominee to the supreme court that the president

ceo mike pearson is stepping down, and billionaire investor bill ackman is joining the board.ormer cfo howard schiller is being asked to resign over what valeant calls improper conduct. he denies the accusation and may be forced to pay back millions in incentives compensation. dennis fed president lockhart says the u.s. economy is strong enough for another rate increase as early as next month. inthe text of a speech savannah, lockhart said there's sufficient momentum evidenced by the economic data to justify a further step at one of the coming meetings, possibly as early as the end of april. margaret says he backed the fomc one sees -- the decision, it is likely to require that rates normalize next year. the fed meets again in april. meantime, jeffrey lacher says inflation will rise once oil prices stabilize and the dollar stopped appreciating. he spoke at a conference in paris today. inflation, core inflation of close to 2% next year. i think it will generally be firmer this year than it was last year. memberhe is not a voting of the fed's policymaking committee this year. pa