Cephalon Sued for Failing to Act in Shareholders' Best Inter

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A lawsuit filed by a Pennsylvania pension fund accused executives at Cephalon (CEPH) of failing to act in the best interest of shareholders regarding the $5.7 billion buyout by Valeant Pharmaceuticals (VRX), Bloomberg reports. Cephalon said yesterday that it will look at the bid next week. Cephalon shares are off 0.37%, or $0.28, to $75.80.

Credit: Financial News Network

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