Mr. Ackman's coalition with Valeant raised questions about whether such an alliance violated insider trading laws. At minimum, it leaves investors with a questionable taste in their mouths about fairness of the markets, given the special access certain investors — like Mr. Ackman — were able to secure by gaining advance information about a potential transaction. Wachtell, Lipton, which defended Allergan against the hostile bid, described the maneuver as "crafty" and "one in which the strategic bidder cannot lose and the activist greatly increases its odds of catalyzing a quick profit-yielding event, investing and striking deals on both sides of a transaction in advance of a public announcement." Allergan sued Mr. Ackman and Valeant, contending that their bid was illegal. The case is still pending, but unfortunately may never be decided because it will most likely be withdrawn, leaving other companies and investors to continue to try to test the legal limits of the courts until a definitive ruling is made.