Pershing Square, Valeant to Pay $290 Million to Settle Allergan Suit


Pershing Square Capital Management LP and Valeant Pharmaceuticals International Inc. are paying $290 million to settle a lawsuit that alleged their trading in Allergan PLC was illegal, allowing William Ackman to put behind him the last vestiges of an investment that created turmoil at his hedge fund.

According to the agreement in principle—reached after a judge issued a tentative opinion that heavily sided with the plaintiffs—Pershing Square will pay $193.75 million while Valeant will pay $96.25 million. That is a shift from…

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