UPDATE: Release from Valeant Shows Co., Ackman's Pershing Can Vote at Special Meeting

 Today, the United States District Court for the Central District of California held that Pershing Square Capital Management, L.P., Valeant Pharmaceuticals International, Inc. VRX and related parties may vote shares of Allergan, Inc. AGN or proxies at the upcoming December 18 stockholder meeting. Allergan had sought to disenfranchise its largest shareholder, PS Fund 1, along with other shareholders solicited by PS Fund 1, by seeking an injunction to prevent them from voting at Allergan's December 18 special meeting. Today's ruling by Judge David O. Carter means that all Allergan shareholders, including PS Fund 1, will be permitted to have their voices heard by voting at the special meeting. "It is in situations like these that courts should be mindful that Congress designed the Williams Act to be neutral and to leave decisions regarding a company's future and a company's management in the hands of shareholders, so long as shareholders have adequate information to make those decisions," Judge Carter stated in his ruling. The Court ordered additional disclosures by Pershing Square and Valeant and those disclosures will be promptly made. "Today's ruling is a victory for all Allergan shareholders as it puts the choice of Allergan's future in the hands of its owners," stated J. Michael Pearson, chairman and chief executive officer.  "We look forward to the December 18 special meeting, where we hope to move a large step closer to the compelling combination of Valeant and Allergan that will create an unrivaled platform for growth and value creation."  We encourage all interested parties to review Judge Carter's ruling, which will be available shortly on www.advancingallergan.com.