Ex-Allergan President Escapes Investor Suit Over Exec Pay

Law360, New York (February 9, 2012, 4:56 PM EST) -- The former president of Allergan Inc. was dismissed Thursday from a shareholder derivative suit accusing the company's board of directors of issuing a misleading statement requesting approval of a defective executive compensation plan that cost the pharmaceutical company millions in tax benefits.

The New Jersey Building Laborers Pension Fund, which brought the suit in Delaware federal court in November, agreed to let F. Michael Ball out of the suit after his attorneys argued that the former executive, who resigned from Allergan's board of directors in March,...
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