Allergan moves to block Valeant and Pershing Square from voting shares acquired in violation of insider trading laws

27 August 2014

Hostile takeover target Allergan (NYSE: AGN) has asked the US District Court for the Central District of California to set an expedited schedule for discovery and a motion for a preliminary injunction against pursuant Valeant Pharmaceuticals International (NYSE: VRX), Pershing Square Capital Management, and its principal, William Ackman, for violations of the federal securities laws.

Sets December 18 as date for special shareholder meeting

In addition, Allergan announced that it will hold a Special Meeting of Stockholders on December 18, 2014, subject to confirmation by Allergan that the meeting has been validly requested in compliance with Allergan’s bylaws (The Pharma Letter August 23). Allergan has established an October 27, 2014 record date for stockholders entitled to vote at the Special Meeting.

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