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Pershing Square, Valeant pay US$290m to end suit

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Allergan's shareholders claimed that they were tricked when Mr Ackman bought their shares knowing that Valeant was planning a hostile bid.

Los Angeles

ACTIVIST investor Bill Ackman's Pershing Square Holdings Ltd and Valeant Pharmaceuticals International Inc agreed to pay US$290 million to settle investor claims that they engaged in insider trading in the unsuccessful 2014 takeover bid for Botox-maker Allergan Inc.

The...

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