Judge Dismisses ERISA Class Action Suit Claiming Allergan Inflated Stock Prices

Mealey's (July 10, 2018, 11:47 AM EDT) -- NEWARK, N.J. — A federal judge in New Jersey on July 2 dismissed a consolidated class action suit brought by employees of Allergan PLC contending that the company, its board of directors and the committees and individuals who oversaw the Allergan Inc. Savings and Investment Plan violated the Employee Retirement Income Security Act by artificially inflating the value of the company’s stock price when offering it as an investment option in the plan, finding that the plaintiffs failed to state a claim upon which relief could be granted (In re Allergan ERISA Litigation, No. 17-1554, D. N.J., 2018 U.S. Dist. LEXIS 112127)....