Valeant Will Pay $96.25 Million to Resolve Allergan Litigation

Valeant Pharmaceuticals announced the parties in the cases of Basile v. Valeant Pharmaceuticals and Timber Hill LLC v. Pershing Square Capital Management, in the U.S. District Court for the Central District of California have preliminarily agreed to resolve the claims of the litigation for $290 million, subject to the court’s approval.

Valeant will pay $96.25 million, or 33 percent, of the settlement under the terms of a recently revised Litigation Management Agreement with the other defendants. Additionally, as part of the agreement, the Company and the other defendants admit no wrongdoing.

Source: http://ir.valeant.com/news-releases/2017/12-29-2017-175601344

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