- 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.
Pershing Square has the votes to call special meeting
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