The discussion focused on major challenges facing Valeant. In particular, investors said the company must avert the possibility of defaulting on its more than $30 billion in debt, the person said. The possibility of a default has been looming since March and is often discussed among investors.
The investors also raised more specific changes such as replacing longtime investor and public relations chief Laurie Little and making sure that Chief Executive Joseph Papa communicated better during quarterly conference calls with investors than his predecessor, the source said. Papa did not attend the meeting, the source added.
Valeant on Tuesday said it would sell billions of dollars of non-core assets and could accept buyout offers for its main businesses as it seeks to restore investor trust. Its shares rose more than 24 percent.
On Monday, Valeant announced new leadership for several key businesses, and said Little was stepping down from the company.
During a call with investors on Tuesday, Maris asked Papa about the evening, saying a Valeant board member held a dinner where selected Valeant owners were able to discuss things, adding that this sounded like "the same old Valeant" to him.
"I don't know the specifics so it would be speculation and I don't want to add to that," Papa said in response.
Bank of America representatives and Laurie Little did not immediately respond to requests for comment.