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Tuesday / March 5.
HomeminewsAllergan Files Valeant Lawsuit

Allergan Files Valeant Lawsuit

A lawsuit has been filed in the U.S. District Court by Allergan against Valeant Pharmaceuticals, Pershing Square Capital Management, and its principal, William A. Ackman citing insider trading, engagement in fraudulent practices and failure to disclose legally required information.[/vc_column_text][/vc_column]

Allergan claims Pershing Square purchased Allergan stock and securities valued at more than US$3.2 billion ahead of the first public offering, with full knowledge of Valeant’s non-public intention to take over Allergan. The transactions were alleged to occur between February and April 2014.

According to reports, the lawsuit may disrupt Valeant’s US$53bn hostile takeover attempt.