SEC probes Valeant/Pershing Square

|By:, SA News Editor

The Securities and Exchange Commission is looking into Valeant Pharmaceuticals (VRX +1.7%) and Pershing Square's hostile pursuit of Allergan (AGN +0.6%) to determine if there has been a breach of insider trading laws according to the WSJ.

The agency routinely examines unusual or novel developments in the market so its inquiry may not lead to anything. Valeant says, "We are confident that the trading was completely lawful."