Wall Street Journal – It isn’t exactly the Treaty of Paris, but it sure ends one of the nastier corporate tiffs. Valeant Pharmaceuticals and Steven Cohen’s hedge fund SAC Capital today agreed to settle a piece of their long-simmering legal spat over a controversial stock-price decline seven years ago.
A little legal wrap: In 2006, a Canadian specialty pharmaceuticals firm called Biovail had sued SAC and other hedgies, alleging they conspired to drive down the company’s share price around 2003, including by ghost-writing unflattering analyst reports.
