Valeant, Ackman agree to split costs in shareholders class action

Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX) and William Ackman’s hedge fund Pershing Square Capital Management reportedly agreed to split litigation costs in a class action lawsuit brought on by shareholders over an alleged insider trading scheme in Allergan (NYSE:AGN)’s 2014 takeover bid.

In June 2014, Valeant offered a tender bid for Allergan, which was followed by a 7 month-long hostile pursuit by Valeant and Ackman’s hedge fund. In November 2014, Allergan publicly announced that it had accepted a $66 billion takeover bid from Actavis.

Get the full story at our sister site, Drug Delivery Business News.

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