ValueAct has been an owner of Valeant for a decade, helping hire Pearson and architect the company's success thanks to the unique executive-compensation structure. Basically, ValueAct tied Pearson's equity to meeting stock performance numbers, basically setting up Valeant like a private equity firm. Even the company has taken to blaming ValueAct and the compensation structure, "The company has determined that the tone at the top of the organization and the performance-based environment at the company, where challenging targets were set and achieving those targets was a key performance expectation, may have been contributing factors resulting in the company's improper revenue recognition."