Allergan Files Suit Against Ackman, Valeant; May Hurt

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…