MONTREAL -- The CEO of Valeant Pharmaceuticals is asking U.S. securities regulators to investigate Citron Research, which has cast questions over the business practices of the Quebec-based company.

Michael Pearson told analysts on a conference call Monday that the main reason for Valeant's recent problems is that it's the victim of false allegations by outsiders who want to manipulate the market to their own profit.

Pearson says he has called on the Securities and Exchange Commission to investigate Citron Research and Andrew Left, its executive editor, after the U.S. short seller compared Valeant to Enron, the U.S. energy firm that collapsed after widespread deception and fraud at the highest levels of management.

Citron Research could not be immediately reached for comment.

In a report last week, Citron alleged that Valeant set up a network of phantom pharmacies to fool auditors -- allegations that Pearson said are "completely untrue." The company's stock has been on a slide since the report was released, resulting in billions of dollars of losses.

Pearson said Valeant follows the law as well as accounting and disclosure rules, adding he would not hesitate to take action if he finds violations.

Valeant's board will conduct its own review of allegations into the drug maker's business relationship with Philidor, a U.S. specialty pharma company.

Valeant lead director Robert Ingram, who has been on the company's board for five years, said the directors have complete confidence in Pearson, the company's accounting practices and the use of specialty pharmaceutical companies.

"With that said, there are other allegations that have been raised publicly with respect to Philidor and we as a board felt it was important to review those issues and any related ones that might arise," Ingram said.

Pearson said during the conference call that Valeant had been "slow to answer some of the questions that investors and the media have raised." But he insisted that Valeant is primarily the victim "of false attacks and misleading statements by short-sellers looking to profit from harming our stock."