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Valeant, Ackman must face U.S. insider trading lawsuit
2015-11-12 01:40:19| Biotech - Topix.net
A U.S. judge said Valeant Pharmaceuticals International Inc. and activist hedge fund manager William Ackman must face a lawsuit accusing them of insider trading in Allergan Inc before making an unsuccessful takeover bid for the maker of Botox. In a Nov. 9 decision, U.S. District Judge David Carter in Santa Ana, California, rejected arguments by Valeant, Ackman and Ackman's Pershing Square Capital Management that the lawsuit should be dismissed because their activity was not fraudulent.
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Category:Biotechnology and Pharmaceuticals