Allergan sues Valeant, Ackman for alleged insider trading

Fri Aug 1, 2014 11:47am EDT

Aug 1 (Reuters) - Allergan Inc, which is fighting a $51 billion hostile takeover bid from Valeant Pharmaceuticals International and activist investor William Ackman, on Friday filed a federal lawsuit alleging they violated insider trading laws and engaged in other fraudulent practices.

(Reporting by Ransdell Pierson)