Allergan Inc (NYSE: AGN) Investor Securities Class Action Lawsuit 12/16/2014

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of August 7, 2018 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

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Company Name(s): 
Allergan
Case Name: 
Allergan Shareholder Class Action Lawsuit 12/16/2014
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NYSE: AGN
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/16/2014
Class Period Begin: 
02/25/2014
Class Period End: 
04/21/2014
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
02/16/2015
Date Settled: 
03/19/2018
Settlement Amount: 
$250,000,000
Deadline to Participate in Settlement: 
08/07/2018
Settlement Notice: 
Settlement Proof: 
Summary: 

The settlement includes all persons who or which SOLD Allergan Inc (NYSE: AGN) common stock during the period February 25, 2014 and April 21, 2014.

March 19, 2018 - The court preliminarily approved the settlement.

January 26, 2018 - Parties filed a stipulation of settlement.

August 5, 2016 - The court denied defendants' motion to dismiss.

May 23, 2016 - Defendants filed a motion to dismiss.

April 21, 2016 - The lead plaintiff filed a second amended complaint.

November 9, 2015 - The court denied defendants' motion to dismiss.

August 7, 2015 - Defendants filed a motion to dismiss.

June 26, 2015 - The lead plaintiff filed an amended complaint.

May 5, 2015 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

February 17, 2015 - Lead plaintiff motions were filed.

December 16, 2014 - An investor who sold shares of Allergan Inc (NYSE: AGN) between February 25, 2014 and April 21, 2014 filed a lawsuit in the U.S. District Court for the Central District of California over alleged Violations of Federal Securities Laws Violations by Pershing Square Capital Management, L.P, William A. Ackman, and Valeant Pharmaceuticals International, Inc.

The plaintiff claims that by purchasing Allergan Inc (NYSE: AGN) stock with material, non-public information between February 25, 2014 and April 21, 2014, and by communicating material, non-public information, Defendants violated the Securities Exchange Act of 1934.

In early February 6, 2014, Valeant began taking substantial steps toward launching a tender offer directly to Allergan Inc’s stockholders.

The plaintiff claims that in violation of the federal securities laws, Valeant tipped Pershing Square regarding Valeant’s tender offer and Pershing Square, through its newly formed shell entity PS Fund 1 LLC , began on February 25, 2014 to acquire Allergan Inc (NYSE: AGN) stock based upon that inside information.

The plaintiff claims that by the time Pershing Square disclosed PS Fund 1’s stake on April 21, 2014, it had already acquired 9.7% of Allergan Inc’s outstanding stock, for a total investment at the time of over $3.2 billion without providing Allergan Inc’s stockholders and the marketplace any disclosure about Valeant’s intention to launch a tender offer for Allergan Inc. Following the announcement the value of Pershing Square’s investment in Allergan Inc stock increased by a billion dollars.

The plaintiff says that the defendants profited from their alleged misconduct and are said to realize a profit of approximately $2.5 billion from their investment of less than a year in Allergan Inc partially by taking advantage of insider information.