Case Page

 

Case Status:    ONGOING    
On or around 11/09/2017 (Ongoing date of last review)

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.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: Canada

SECURITIES INFORMATION:

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.
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:
  1. Bottini & Bottini, Inc.
    7817 Ivanhoe Avenue, Suite 102, Bottini & Bottini, Inc., CA 92037
    858.914.2001 858.914.2002 ·
  2. Cotchett Pitre & McCarthy (Burlingame)
    840 Malcolm Road, Suite 200, Cotchett Pitre & McCarthy (Burlingame), CA 94010
    650.697.600 650.697.600 ·
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 14-CV-02004
JUDGE: Hon. Josephine L. Staton
DATE FILED: 06/26/2015
CLASS PERIOD START: 02/25/2014
CLASS PERIOD END: 04/21/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (San Diego)
    12481 High Bluff Drive, Suite 300, Bernstein Litowitz Berger & Grossmann LLP (San Diego), CA 92130
    858.793.0070 858.793.0323 · blbg@blbglaw.com
  2. Kessler Topaz Meltzer & Check LLP (California)
    580 California Street, Suite 1750, Kessler Topaz Meltzer & Check LLP (California), CA 94104
    415.400.3000 415.400.3000 · info@ktmc.com
No Document Title Filing Date