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Pershing Square says Allergan CEO led smear campaign against Valeant

2014-10-22 11:21:16| Biotech - Topix.net

Pershing Square Capital Management says that it has uncovered evidence that the management of Allergan Inc. made false and misleading statements about Valeant Pharmaceuticals Inc. as part of a "scorched earth" campaign to thwart the Canadian company's hostile takeover of the California-based maker of Botox. Pershing Square, which is Allergan's largest shareholder and Valeant's ally in the takeover battle, says in a 44-page court filing - which has many portions blacked out and which hasn't been tested in court - that Allergan chief executive David Pyott, who is also chairman of Allergan's board, "personally led the charge and directed much of the misconduct."

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Category:Biotechnology and Pharmaceuticals

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