Allergan drops Valeant-Ackman insider trading lawsuit

Allergan--now owned by Actavis ($ACT)--and its former hostile suitors, Valeant ($VRX) and Bill Ackman's Pershing Square, are putting the past behind them. Actavis has agreed to drop a lawsuit accusing the tandem of insider trading, and the takeover team is withdrawing its claims that Allergan made false statements about the Canadian pharma's business model, The Wall Street Journal reports. More (sub. req.)