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Stock Market & Financial Investment News

News Breaks
August 1, 2014
15:04 EDTVRX, AGNValeant, Pershing say Allergan makes 'baseless claims' in 'frivolous' lawsuit
Valeant Pharmaceuticals (VRX) and Pershing Square Capital Management responded to the filing of a federal lawsuit by Allergan (AGN) in California, stating that the complaint "makes baseless claims about Valeant and Pershing Square regarding the tender offer rules." Valeant and Pershing said: "Allergan's true purpose in bringing the litigation is an attempt to interfere with shareholders' efforts to call a special meeting. That purpose is made clear in a separate letter Allergan sent today to the Delaware Court of Chancery. In that letter, Allergan noted that its bylaws 'provide that the Corporate Secretary 'shall consider ineffective' any Special Meeting Requests that are 'made in a manner that involved a violation of Regulation 14A under the Exchange Act, or other applicable law.' Pershing Square is targeting the middle of August for delivering shareholder requests to call a special meeting. Pershing Square and Valeant are confident that this desperate attempt to delay or avoid the special meeting will not succeed. The independent proxy advisory firms are expected to issue their recommendations on this matter in the near future, and this lawsuit also seeks to distract from those forthcoming recommendations."
News For VRX;AGN From The Last 14 Days
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January 26, 2015
17:34 EDTAGNActavis registration statement for Allergan acquisition declared effective
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January 22, 2015
05:57 EDTVRXActavis, Valeant raise prospects of more healthcare deals, Financial Times says
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January 21, 2015
12:30 EDTAGN, VRXGlaxoSmithKline 'admired' by Pfizer CEO, FT reports
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07:22 EDTAGNActavis price target raised to $330 from $280 at Deutsche Bank
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