Ackman, Valeant Target Of Lawsuit; Will Allergan’s Pyott Join Plaintiffs?Mark Melin
A new class action lawsuit is doing what some had anticipated government regulators would do: charging that Bill Ackman, his hedge fund, Pershing Square Capital Management, and Valeant Pharmaceuticals Intl Inc, engaged in insider trading.
The suit, brought by investors who sold stock between February and April, a period when Ackman's Pershing Square Capital Management had knowledge of a pending acquisition of Allergan Inc. and discreetly purchased nearly 10% of Allergan's stock . . .
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