Violation Tracker Individual Record

Company: 
Valeant Pharmaceuticals International, Inc.
Current Parent Company: 
Bausch Health
Penalty: 
$145,000,000
Year: 
2017
Date: 
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: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Canada (reincorporated for tax reasons)
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
pharmaceuticals
Specific Industry of Parent: 
pharmaceuticals
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.