The rhubarb continues as Allergan pursuers file countersuit

|By:, SA News Editor

Valeant Pharmaceuticals (VRX) and Bill Ackman filed a countersuit in California yesterday in response to Allergan's (AGN -0.2%) lawsuit alleging the two pursuers breached insider trading laws.

In addition to the well-known argument that their agreement is legal, they assert cloak and dagger-type activities by Allergan such as secretly recorded telephone conversations, "highly unusual" investor road shows to Valeant's home country of Canada and "unusual" executive transitions.

With the exception of the lawyers involved, everyone else is most assuredly fatigued over the ongoing acrimony surrounding Valeant's hostile bid.