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SEC is investigating bid by Valeant and Bill Ackman for Allergan
SEC is investigating bid by Valeant and Bill Ackman for Allergan

The Securities and Exchange Commission is looking into the way a Canadian pharmaceutical company and activist investor Bill Ackman have tried to buy Botox maker Allergan Inc. of Irvine. Word of the investigation came less than a week after Allergan sued Valeant Pharmaceuticals International Inc. and Ackman's hedge fund, Pershing Square Capital Management, for alleged securities violations. Allergan contends that Pershing Square committed insider trading by buying nearly 10% of the Botox maker's stock in the days before Valeant offered to buy the company. On Thursday, Pershing Square said it had done nothing wrong in partnering with Valeant in its effort to acquire Allergan in...

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