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Company News

BRIEF-Pershing Square Announces Agreement To Settle Lawsuits Related To Allergan

Dec 29 (Reuters) - Pershing Square Holdings Ltd:

* PERSHING SQUARE ANNOUNCES AGREEMENT IN PRINCIPLE TO SETTLE LAWSUITS RELATED TO ALLERGAN

* VALEANT ORIGINALLY AGREED TO PAY 60% SETTLEMENT COST; VALEANT, CO HAD DIFFERENT VIEWS ON DESIRABILITY,TIMING OF SETTLING CASE

* PERSHING SQUARE HAD PREVIOUSLY SET ASIDE $75 MILLION IN LEGAL RESERVES RELATED TO THE ALLERGAN CASE

* INCREMENTAL COST OF SETTLING LITIGATION WILL REDUCE PSH’S & PRIVATE FUNDS’ PERFORMANCE AND NET ASSET VALUE BY 132 BASIS POINTS Source text for Eikon: Further company coverage:

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