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Violation Tracker Individual Record

Company: Pershing Square Capital Management
Penalty: $145,000,000
Year: 2017
Date: December 29, 2017
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: insider trading
Mega-Scandal: Insider Trading
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: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.