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4-Traders Homepage  >  Equities  >  Nyse  >  Allergan plc    AGN   IE00BY9D5467

ALLERGAN PLC (AGN)
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Pershing Square, Valeant to appear in court on insider trading suit settlement

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01/03/2018 | 07:16am CET
Ackman, CEO of Pershing Square Capital, speaks at the WSJ Digital Conference in Laguna Beach

A U.S. court on Tuesday asked Valeant Pharmaceuticals International Inc (>> Valeant Pharmaceuticals Intl Inc) and activist investor Bill Ackman's Pershing Square (>> Pershing Square Holdings) to appear for a hearing to discuss the proposed settlement in an insider trading lawsuit.

A U.S. court on Tuesday asked Valeant Pharmaceuticals International Inc (>> Valeant Pharmaceuticals Intl Inc) and activist investor Bill Ackman's Pershing Square (>> Pershing Square Holdings) to appear for a hearing to discuss the proposed settlement in an insider trading lawsuit.

The hearing, set for Jan. 16, comes after Pershing Square and Valeant last week decided to pay $290 million to settle the lawsuit that accused them of insider trading before bidding for Allergan Plc (>> Allergan plc) in 2014.

The lawsuit was filed on behalf of investors who sold Allergan shares in the two months before Pershing Square Capital Management and Valeant made an unsolicited $51 billion bid for Allergan.

The court has "substantial questions regarding whether the settlement amount is reasonable and fair," according to documents filed in the U.S. District Court, Central District of California.

"Today's order is a mandated step in the settlement process," a Valeant spokeswoman said in an email to Reuters. "We believe the settlement is fair, reasonable and adequate, and we look forward to explaining our position to the Court."

Pershing Square could not be reached for comment outside regular business hours.

(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Amrutha Gayathri)

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Financials ($)
Sales 2017 15 892 M
EBIT 2017 7 642 M
Net income 2017 -6 499 M
Debt 2017 24 894 M
Yield 2017 1,62%
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 5,26x
EV / Sales 2018 5,34x
Capitalization 58 774 M
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Number of Analysts 23
Average target price 217 $
Spread / Average Target 23%
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Brenton L. Saunders Chairman, President & Chief Executive Officer
Robert A. Stewart Chief Operating Officer
Maria Teresa Hilado Chief Financial Officer
C. David Nicholson Chief Research & Development Officer
Paul M. Bisaro Director
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