Allergan Investors Seek First Court OK of $130 Million Deal

Allergan PLC and investors who say the company misled them about generic drug competition and compliance with antitrust laws asked a federal judge in New Jersey for initial approval of their $130 million settlement.

The cash deal resolves allegations that the pharmaceutical company touted competition while actually colluding with competitors to inflate generic drug prices, investors said in the preliminary settlement approval documents filed in the U.S. District Court for the District of New Jersey.

Allergan “expressly” denied “any and all allegations of fault, liability, wrongdoing, or damages whatsoever,” according to the documents.

The settlement covers three subclasses, including anyone ...