The U.S. Securities and Exchange Commission fined Parsippany-Troy Hills, N.J.-based Allergan $15 million for failing to disclose its 2014 merger talks with Actavis, also based in Parsippany-Troy Hills.
Here's what you should know.
1. Allergan didn't disclose its potential merger activity after it had received a tender offer from Laval, Canada-based Valeant Pharmaceuticals and its co-bidder Pershing Square Capital Management.
2. Instead, Allergan delayed the takeover before announcing it had accepted a $66 billion bid from Actavis.
3. The SEC said Allergan never provided timely disclosures about its potential deal with Actavis.
4. As part of the deal, Allergan agreed to not engage in future violations.
The SEC also declined to accuse any subsidiary of wrongdoing.