"As you know, in the biginning of August, we filed a lawsuit in federal court against Valeant, Pershing Square and Bill Ackman. In our lawsuit,we alleged that they violated federal securities laws prohibiting insider trading, engaged inother fraudulent practices, and failed to disclose legally required information.
Today, Judge David O.Carter found that Allergan raised serious questions as to whether Valeant and Pershing Square violated SEC Rule 14e-3, which prohibits traing on the basis of material nonpublic information when an offering person has taken a substantial step or steps to commence a tender offer of a target company. Additionally, the Court ordered that Valeant and Pershing Square must revise their proxy disclosures to reflect the truth behind their hostile acquisition plan...
It's likely that today's development will generate interest from the media and other outside parties. I would ask that you continue to do what you have done so well these past months - remain focused on our business priorities.
As always, I would like to convey my enduring appreciation of your hard work, talent and dedication to delivering on our commitments to our physician customers and their patients."
Today, Judge David O.Carter found that Allergan raised serious questions as to whether Valeant and Pershing Square violated SEC Rule 14e-3, which prohibits traing on the basis of material nonpublic information when an offering person has taken a substantial step or steps to commence a tender offer of a target company. Additionally, the Court ordered that Valeant and Pershing Square must revise their proxy disclosures to reflect the truth behind their hostile acquisition plan...
It's likely that today's development will generate interest from the media and other outside parties. I would ask that you continue to do what you have done so well these past months - remain focused on our business priorities.
As always, I would like to convey my enduring appreciation of your hard work, talent and dedication to delivering on our commitments to our physician customers and their patients."