The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Allergan Inc. (“Allergan” or the “Company”) (NYSE: AGN) and other violations of state law by the board of directors of Allergan relating to the proposed buyout of the Company by Pershing Square Capital Management and Valeant Pharmaceuticals (“Valeant”).
Under the terms of the proposal, public shareholders of Allergan would receive $48.30 in cash and 0.83 shares of Valeant common stock for each share of Allergan they own. Based on Valeant's closing stock price on April 21, 2014, Allergan shareholders would have received consideration valued at approximately $152.88 per share.
The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value, and whether Valeant is underpaying for Allergan shares.
If you currently own common stock of Allergan and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.