We've scheduled your meeting but don't think for a minute that we've given up the fight

Allergan (AGN +0.4%) asks the U.S. District Court for the Central District of California for an expedited schedule for discovery and a preliminary injunction against Valeant Pharmaceuticals (VRX +1.4%) and Pershing Square Capital Management for violating insider trading laws. If successful, the pursuers will be blocked from counting their AGN shares in the total used to call the special meeting and they will fall short of the minimum 25% required to do so.

Allergan has established October 27, 2014 as the date of record for stockholders entitled to vote at the December 18, 2014 meeting. Its request to the Court would require the expedited discovery to be completed in October 2014 and would set a hearing on on the preliminary injunction motion before the special meeting.

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Comments (1)
  • basedrum777
    , contributor
    Comments (4) | Send Message
    I was unclear that Allergan is the arbiter of what is and is not legal in America. Maybe their stock symbol should change to SEC....
    27 Aug 2014, 09:53 AM Reply Like
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