The Shareholders Foundation announces that an investigation was initiated for investors in Allergan, Inc. (NYSE:AGN), who sold any of their NYSE:AGN shares between February 25, 2014 and April 21, 2014, over potential securities laws violations in connection with the proposed acquisition by Valeant Pharmaceuticals.
Investors who sold any shares of Allergan, Inc. (NYSE:AGN) between February 25, 2014 and April 21, 2014 have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of certain sellers of the securities of Allergan, Inc. (NYSE:AGN) concerning whether a series of statements by Allergan, Inc. (NYSE:AGN regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 22, 2014, Allergan, Inc. (NYSE: AGN) confirmed that it has received an unsolicited proposal from Valeant Pharmaceuticals International, Inc.to acquire all of the outstanding shares of the Company for a combination of 0.83 of Valeant common shares and $48.30 in cash per share of common stock of the Company. Based on Valeant’s closing stock price on April 21, 2014, Allergan shareholders would have received consideration valued at approximately $152.88 per share. On May 12, 2014, Allergan, Inc announced that its board of directors rejected the offer announced by Valeant Pharmaceuticals International, Inc. on April 22, 2014.
On May 28, 2014, Allergan, Inc confirmed that it has received a revised, unsolicited proposal from Valeant Pharmaceuticals International, Inc. to acquire all of the outstanding shares of Allergan, Inc for a combination of 0.83 of Valeant Pharmaceuticals International common shares,$58.30 in cash per share of common stock of the Company, and a Contingent Value Right (CVR) related to DARPin® sales. On May 30, 2014, Allergan, Inc.(NYSE: AGN) acknowledged that Valeant Pharmaceuticals International, Inc. and Pershing Square Capital Management, L.P. have made a second revised, unsolicited proposal to acquire all of the outstanding shares of Allergan, Inc for a combination of 0.83 of Valeant Pharmaceuticals International common shares, $72.00 in cash per share of common stock of the Company, and a Contingent Value Right (CVR) related to DARPin® sales. On June 23, 2014 Allergan, Inc announced that its board of directors rejected the offer made by Valeant Pharmaceuticals International, Inc. and Pershing Square Capital Management, L.P. on May 30, 2014.
On October 27, 2014, Valeant Pharmaceuticals International, Inc delivered a letter to the board of directors of Allergan, Inc. Among other things, Valeant Pharmaceuticals International, Inc stated that it is prepared to improve its offer and provide value to Allergan shareholders of at least $200 a share.
On November 14, 2014, Allergan, Inc. (NYSE:AGN) shares closed at $198.65 per share.
Those who SOLD shares in Allergan, Inc. (NYSE:AGN) between February and April 2014 have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com