Pershing Square has the votes to call special meeting

|By:, SA News Editor

In his order denying Allergan's (AGN -1%) motion to expedite its lawsuit against Valeant Pharmaceuticals (VRX +0.3%) and Pershing Square, Judge David Carter mentioned that Pershing Square has the votes to call a special meeting of shareholders. Allergan must call the meeting within 120 days after at least 25% of its shareholders request it in a Delaware court.

The company's pursuers intend to use the meeting to oust six of the firm's directors and replace them with people favoring their proposed acquisition.