The latest poster child for corporate malfeasance is Valeant Pharmaceuticals. The perfect enforcement storm is lining up with Congress, the U.S. Securities and Exchange Commission, and two U.S. attorney’s offices getting ready to aggressively investigate and punish the company and its principal leaders. Valeant is a textbook example of how not to structure corporate incentives and should be examined in every MBA program, says Michael Volkov, a former federal prosecutor.
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