Deadline in Lawsuit for Certain Sellers of Allergan, Inc. (AGN) Shares Announced by Shareholders Foundation
18 December 2014 - 3:15AM
The Shareholders Foundation, Inc. announces that a lawsuit was
filed on behalf of investors who SOLD shares of Allergan, Inc.
(AGN) between February 25, 2014 and April 21, 2014, over alleged
Violations of Federal Securities Laws Violations by Pershing Square
Capital Management, L.P, William A. Ackman, and Valeant
Pharmaceuticals International, Inc.
If you SOLD a substantial amount of shares of Allergan, Inc.
(NYSE:AGN) between February 25, 2014 and April 21, 2014, you have
certain options and there are short and strict deadlines running.
Deadline: February 16, 2015. (NYSE:AGN) sellers should contact the
Shareholders Foundation at mail@shareholdersfoundation.com or call
+1(858) 779 - 1554.
The plaintiff claims that by purchasing Allergan, Inc. (AGN)
stock with material, non-public information between February 25,
2014 and April 21, 2014, and by communicating material, non-public
information, Defendants violated the Securities Exchange Act of
1934.
In early February 2014 Valeant began taking steps toward
launching a tender offer directly to Allergan's stockholders.
The plaintiff claims that in violation of federal securities
laws, Valeant tipped Pershing Square regarding Valeant's tender
offer and Pershing Square, through its newly formed shell entity PS
Fund 1 LLC, began on February 25, 2014 to acquire Allergan, Inc.
(NYSE:AGN) stock based upon that inside information.
The plaintiff claims that by the time Pershing Square disclosed
PS Fund 1's stake on April 21, 2014, it had already acquired 9.7%
of Allergan's outstanding stock, for a total investment at the time
of over $3.2 billion without providing Allergan's stockholders and
the marketplace any disclosure about Valeant's intention to launch
a tender offer for Allergan. Following the announcement the value
of Pershing Square's investment in Allergan stock increased by a
billion dollars.
The plaintiff says that the defendants profited from their
alleged misconduct and are said to realize a profit of
approximately $2.5 billion from their investment of less than a
year in Allergan partially by taking advantage of insider
information.
The plaintiff claims that had Allergan shareholders known the
truth they would not have sold their Allergan stock between
February 25, 2014 and April 21, 2014.
Those who SOLD Allergan, Inc. (NYSE:AGN) shares between February
25, 2014 and April 21, 2014 have certain options and should contact
the Shareholders Foundation, Inc. by e-mail at
mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and a settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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