U.S. court declines to expedite Allergan's insider trading suit

08/22/2014 | Reuters

Allergan, which makes Botox, was unsuccessful in its bid to get a federal judge to expedite its civil suit against Valeant Pharmaceuticals International and Pershing Square Capital Management over alleged insider trading. Allergan rejected an acquisition offer from Valeant and Pershing in April, and it has resisted a takeover attempt. The court did not want to set a precedent that corporations could demand immediate attention to company issues that the free market or lower courts should settle, wrote Judge David Carter.

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