We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Valeant Says Insurers Must Defend Allergan, Stock-Drop Suits

Law360, New York (January 12, 2018, 9:18 PM EST) -- Valeant Pharmaceuticals has sued an AIG unit and other insurers, seeking coverage of its costs to defend lawsuits accusing it of orchestrating an insider trading scheme in connection with its attempted $55 billion takeover of Allergan and of fraudulently inflating its stock price, court documents filed Friday in New Jersey federal court show.

In a complaint removed from New Jersey state court, Quebec-based Valeant alleges that primary insurer AIG Insurance Co. of Canada and nearly two dozen excess insurers — including various Lloyd's of London syndicates...
To view the full article, register now.