Bausch Not Covered For Allergan Case, Insurers Say

By Jeff Sistrunk (July 1, 2020, 6:45 PM EDT) -- Insurers for Bausch Health Cos. asked a New Jersey federal judge Wednesday to find that they don't have to pay the pharmaceutical company's costs to defend and settle class-action suits it faced over an alleged insider trading scheme connected to a failed takeover of Allergan, contending the suits are not covered "securities claims."

Bausch, formerly known as Valeant Pharmaceuticals, is seeking a ruling that suits filed against it in 2014, alleging the company tipped off a hedge fund about an impending hostile takeover of Allergan, are covered by Valeant's multitiered 2013-2014 directors and officers insurance program with primary insurer AIG Insurance...

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