1. Bill Ackman Just \Took a $200 Million Hit to His Reputation

    Bill Ackman Just \Took a $200 Million Hit to His Reputation
    • Billionaire investor Bill Ackman and his firm Pershing Square, along with Valeant Pharmaceuticals, will pay just under $300 million to settle an insider-trading suit over their attempt to buy pharmaceutical firm Allergan in 2014.
    • Ackman will pay the lion's share, contrary to a previous agreement he struck with Valeant.
    • This is yet another in a series of missteps that have been tarnishing Ackman's reputation since he partnered with Valeant...
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    1. Pershing Square and Valeant have agreed to split the $290 million total settlement such that Pershing Square will pay $193.75 million and Valeant will pay $96.25 million.
    2. While Valeant had originally agreed to pay 60% of the cost of the settlement, Valeant and Pershing Square had different views on the desirability and timing of settling the case, which previously prevented settlement.
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