SAN DIEGO, Dec. 17, 2014 /PRNewswire/ -- BOTTINI &
BOTTINI, INC. (http://www.bottinilaw.com) today announced
that a class action has been commenced in the United States
District Court for the Central District of California on behalf of persons who
sold Allergan, Inc. (NYSE: AGN) common stock
between February 25, 2014 and
April 21, 2014 (the "Class
Period").
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from December
17, 2014. If you wish to discuss this action or have
any questions concerning this notice or your rights or interests,
please contact plaintiff's counsel, Frank
A. Bottini or Albert Y. Chang
of Bottini & Bottini, at (858) 914-2001, or via e-mail at
fbottini@bottinilaw.com or achang@bottinilaw.com. If you are
a member of this class, you can view a copy of the complaint as
filed or join this class action online at
http://www.bottinilaw.com/cases/ valeant/. Any member of the
putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member.
The complaint charges 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") with violations of Sections 14(e) and
20A of the Securities Exchange Act of 1934, as amended.
Plaintiff alleges that Valeant unlawfully tipped Pershing Square
about its plan to make a tender offer for Allergan, with Pershing
Square then trading on such material, non-public information by
buying an approximately 9.7% stake in Allergan during the Class
Period without first disclosing Valeant's plan to pursue a tender
offer to acquire Allergan at a significant premium.
When Valeant first 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 huge volume of over 32 million
shares – ten times Allergan's average daily trading volume during
the Class Period.
Plaintiff seeks to recover damages on behalf of all persons who
sold Allergan stock between February 25,
2014 and April 21, 2014,
inclusive. Plaintiff 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. The plaintiff is
represented by Bottini & Bottini, which specializes in
representing investors and has extensive experience in prosecuting
securities class actions.
Located in San Diego,
California, Bottini & Bottini represents shareholders
across the country in contingency-based securities class action
litigation. The firm has obtained many multi-million dollar
recoveries for shareholders. Please visit
http://www.bottinilaw.com for more information.
Contact:
BOTTINI & BOTTINI, INC.
Albert Y. Chang
Telephone: (858) 914-2001
E-mail:
achang@bottinilaw.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bottini--bottini-inc-files-class-action-lawsuit-on-behalf-of-persons-who-sold-allergan-stock-between-february-25-2014-and-april-21-2014-300010996.html
SOURCE BOTTINI & BOTTINI INC.