Valeant Pharmaceutical International, Inc. : Allergan, Inc. Common Stock Securities Litigation
On or around 08/14/2018 (Date of order of final judgment)
Filing Date: December 16, 2014
According to the law firm press release, Plaintiff alleges that Valeant unlawfully tipped Pershing Square about its plan to make a tender offer for Allergan, with Pershing Square then trading on such material, non-public information by buying an approximately 9.7% stake in Allergan during the Class Period without first disclosing Valeant's plan to pursue a tender offer to acquire Allergan at a significant premium.
When Valeant first disclosed its desire to pursue an acquisition of Allergan to the stock market on April 22, 2014, Allergan's stock price soared, rising from a closing price the previous day of $141.88 to close at $163.51 on April 22, 2014 on huge volume of over 32 million shares – ten times Allergan's average daily trading volume during the Class Period.
On November 9, 2015, the Court issued an Order denying Defendants' motion to dismiss.
A second amended complaint was filed on April 21, 2016.
The Parties entered into a Stipulation of Settlement on January 26, 2018. The Court issued an Order preliminarily approving the Settlement on March 19. On August 14, the Court granted final approval of the Settlement and entered Final Judgment.
Company & Securities Information
Defendant: Allergan, Inc.
Industry: Major Drugs
Ticker Symbol: AGN
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Anthony Basile, et al. v. Valeant Pharmaceutical International, Inc., et al.
COURT: C.D. California
DOCKET #: 14-CV-02004
JUDGE: Hon. Josephine L. Staton
DATE FILED: 12/16/2014
CLASS PERIOD START: 02/25/2014
CLASS PERIOD END: 04/21/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bottini & Bottini, Inc. 7817 Ivanhoe Avenue, Suite 102, Bottini & Bottini, Inc., CA 92037 858.914.2001 858.914.2002 ·