Gardy & Notis, LLP Reminds Investors Who Sold Allergan (AGN) Shares Between February 25, 2014 and April 21, 2014 of Upcoming Lead Plaintiff Deadline in Class Action Lawsuit
NEW YORK, Feb. 10, 2015 /PRNewswire/ -- The securities class action firm Gardy & Notis, LLP, announces that class action litigation has been brought on behalf of those who sold the common stock of Allergan Inc. ("Allergan")(NYSE: AGN) between February 25, 2014 and April 21, 2014, inclusive (the "Class Period").
If you sold Allergan common stock during the Class Period, you may move the Court for appointment as lead plaintiff no later than February 17, 2015.
The complaint alleges that defendants Valeant Pharmaceuticals International, Inc., Valeant Pharmaceuticals International, AGMS, Inc., Pershing Square Capital Management L.P., William A. Ackman, PS Management GP, LLC, and PS Fund 1, LLC ("Defendants") violated the federal securities laws.
The complaint alleges that Valeant unlawfully tipped Pershing Square about its plan to make a tender offer for Allergan, and that Pershing Square then bought a 9.7% stake in Allergan during the Class Period using such material, non-public information, without first disclosing Valeant's plan to pursue a tender offer to acquire Allergan at a significant premium.
When Valeant disclosed its desire to pursue an acquisition of Allergan to the stock market on April 22, 2014, Allergan's stock price soared, rising from a closing price the previous day of $141.88 to close at $163.51 on April 22, 2014 on extremely high volume trading.
The complaint alleges that class members were damaged by selling their Allergan stock during the Class Period at prices that did not reflect Valeant's anticipated tender offer to acquire Allergan at a significant premium.
To learn more about your potential claims and how to seek appointment as lead plaintiff, please contact Orin Kurtz by email, [email protected], or telephone, 212-905-0509.
CONTACT:
Orin Kurtz
Gardy & Notis, LLP
126 East 56th Street, 8th Floor
New York, NY 10022
(212) 905-0509
[email protected]
SOURCE Gardy & Notis, LLP
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