SEC Brings Enforcement Action for Disclosure Failures During Merger Talks

SEC Brings Enforcement Action for Disclosure Failures During Merger Talks


The SEC's order finds that Allergan failed to disclose in a timely manner its negotiations with potentially friendlier merger partners in the months following a tender offer from Valeant Pharmaceuticals International and co-bidders in June 2014. Allergan publicly stated in a disclosure filing that the Valeant bid was inadequate and it was not engaging in negotiations that could result in a merger.



from Biotech News