Allergan, Inc. (NYSE:AGN) just filed a lawsuit against Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) and Pershing Square that may have hit below the belt – or at least in a highly vulnerable spot.
Allergan's charges against Ackman and Valeant
The complaint charges that William Ackman’s Pershing Square hedge fund and Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX) violated insider trading laws and failed to disclose material information in advance of a takeover. Ackman and Valeant both planed the purchase of Allergan stock and Ackman is documented to have purchased interest in this stock before this was public knowledge.
There are key points of the issue that illustrate why these charges could be so potentially...
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