The allegations of channel stuffing were pretty reasonable from the outside.. When Left wrote his report, it was clear that Valeant had extensive relationships with several pharmacies that weren't disclosed -- he couldn't have known that although Valeant didn't own any of them, they were rolling up their financials. His intuition was pretty spot on though, since he felt there must be something shady going on given that Valeant hadn't disclosed their relationship and it was clear they were responsible for hundreds of millions in revenue.