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Is The SEC Asking These Hedge Funds For An Explanation Why They All Rushed Into Allergan Last Quarter?
which showed how Bill Ackman had accumulated a massive 9.7% stake in AGN stock through call options, making him the largest stakeholder of the company. What happened after this fervent accumulation spree, driven by Ackman's advance knowledge that Valeant would submit a bid for Allergan, is that news was purposefully leaked that Ackman was about to activist on Allergan in a fight that has lasted for just under 4 months but is so for not going quite Ackman's way with Allergan refusing to relent. The stock soared, and Ackman made a killing on his calls, allowing Pershing Square to return about 30% YTD, a fact which has ... (full story)