In its effort to ward off a $53 billion hostile takeover, Allergan Inc. allegedly made false and misleading statements about Valeant Pharmaceuticals International Inc.’s business over the past few months, Valeant reported to the Securities and Exchange Commission and regulators in Canada.
Valeant, a Canadian drugmaker that teamed up with activist investor Bill Ackman in its bid for Allergan in April, accused Allergan of trying to mislead investors and manipulate the market for Valeant common shares by continuing to make false statements even after Valeant corrected the information.
