NEW YORK, Dec. 18, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights firm, announced today that a class action lawsuit has been filed on behalf of all sellers of Allergan Inc. stock (NYSE:AGN) between February 25, 2014 and April 21, 2014.
To join the Allergan class action, go to the website at http://rosenlegal.com/cases-465.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Valeant Pharmaceuticals International, Inc. tipped Pershing Square Asset Management L.P. about its plan to make a tender offer for Allergan. With this non-public information on hand, Pershing Square bought a 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. On April 22, 2014, Valeant disclosed for the first time its desire to pursue an acquisition of Allergan to the stock market, leading to Allergan's stock price increasing exponentially, rising from a closing price the previous day of $141.88 to close at $163.51 on April 22, 2014.
"The facts alleged in this lawsuit appear to be another instance of insiders engaging in misconduct to line their pockets," said Rosen attorney Phillip Kim.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 16, 2015. If you wish to join the litigation or to discuss your rights or interests regarding this class action go to http://rosenlegal.com/cases-465.html or contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe.