Ackman and Valeant’s Bid for Botox Maker May Be Too Clever to Be Legal

Tiptoeing on a tightrope past insider trading laws may be deft and clever, but it doesn’t make it right. For months, William A. Ackman, the hedge fund manager, has nonchalantly said, repeatedly, that his purchase of Allergan shares worth over $1 billion ahead of a takeover offer from Valeant Phar…

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Ackman and Valeant’s Bid for Botox Maker May Be Too Clever to Be Legal

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