Allergan Files Lawsuit Against Valeant Pharmaceuticals

(RTTNews) - Allergan Inc. (AGN) Friday filed a lawsuit against Valeant Pharmaceuticals International Inc. (VRX, VRX.TO), Pershing Square Capital Management LP and William Ackman, alleging that they violated federal securities laws prohibiting insider trading, engaged in other fraudulent practices, and failed to disclose legally required information.

Allergan has filed the lawsuit in the US District Court for the Central District of California.

Allergan said it decided to file the lawsuit in order to ensure that all of its stockholders have the opportunity to make decisions regarding their investment in the company based on compliant, full and fair disclosures, and to ensure that any stockholders voting on corporate matters acquired their shares in accordance with the law.