Pearson to receive additional compensation to the tune of millions of dollars at a time when countless other Valeant employees have been asked to sacrifice for the good of the company and its shareholders,” said a letter referred to in the lawsuit.In its 2017 proxy statement, Valeant told shareholders that it was “not in a position to make any further payments to Mr. Pearson.”Valeant declined to comment on the lawsuit.The company has paid Pearson a $9 million US severance, a 2016 bonus and has agreed to provide family health insurance for two years. It has also provided him an office, use of an executive administrative assistant and IT support.In all, Pearson received $12 million US in compensation last year, according to a regulatory filing ahead of Valeant’s annual general meeting on May 2.Pearson was replaced by Joseph Papa after the Quebec based drugmaker had a rough year in which it lost nearly 90 per cent of its stock value, racked up losses of $2.4 billion US and came under scrutiny over its drug pricing practices..
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