Allergan Inc. (AGN) Holders Can Proceed With Botox Suit, Judge Rules
6/14/2012 6:41:46 AM
Allergan Inc. (AGN) investors can seek to hold directors responsible for criminal sanctions and a $600 million penalty that the maker of the wrinkle smoother Botox was ordered to pay for marketing the drug for unapproved uses, a judge ruled. Two pension funds who contend that Allergan’s board failed to properly oversee executives who marketed Botox for ailments that hadn’t been approved by regulators have amassed enough evidence about the illegal sales effort to proceed with their claims, Delaware Chancery Court Judge Travis Laster concluded today.
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