SANTA ANA, Calif. (Legal Newsline) – A class action lawsuit was filed against Valeant Pharmaceuticals and Pershing Square Capital Management on Dec. 16 alleging insider trading for stock in Allergan, Inc.
The suit, filed by Anthony Basile, lists events beginning in February that allegedly led to Valeant’s tender offer for Allergan in June. The events include allegations that Valeant formed a shell entity, called PS Fund, with Pershing Square to purchase a significant stake in Allergan.
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