Violation Tracker Individual Record

Pershing Square Capital Management
December 29, 2017
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Violation Description: 

In a case brought by the Ohio AG on behalf of the state teachers retirement system and other investors, Pershing Square Capital Management and Valeant Pharmaceuticals agreed to pay a total of $290 million to resolve allegations that they violated insider-trading laws and harmed Allergan investors during an effort to take over that company. A public pension fund in Iowa was a co-lead plaintiff in the case. The announcement did not indicate how much each company would pay. Here we assume the total was divided equally between them.

Level of Government: 
Action Type: 
agency action
Multistate Attorneys General Case
Civil or Criminal Case: 
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.