SEC Discusses Hypothetical Ackman Allergan Deal In Congress

California Congressman Edward Royce is interested in how activist hedge fund manager Bill Ackman plies his trade. In June, press reports noted Royce planned on “grilling” Securities and Exchange Commission Corporation Finance Director Keith Higgins at a House Financial Services hearing on insider trading issues related to Ackman’s acquisition of Allergan, Inc. (NYSE:AGN) stock in advance of a publically announced deal to acquire the company.

Today on Capital Hill Royce had his advertised opportunity, but the “grilling” that was promised at...