NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Bausch Health Companies, Inc. (“Bausch” or the “Company”) (NYSE: BHC) in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased or otherwise acquired Bausch securities between August 6, 2020 and May 3, 2023, both dates inclusive (the “Class Period”). Investors have until September 25, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
On May 10, 2022, Bausch reports its financial results for the first quarter of 2022. Following the announcement, Bausch's stock price fell $3.50 per share, or 27.13%, to close at $9.40 per share on May 10, 2022. Analysts attributed the decline to concerns related to the Company's spin-off of Bausch + Lomb Corporation, high debt levels, and anticipation over the Xifaxan patent decision in the Company's ongoing litigation against Norwich Pharmaceuticals Inc. ("Norwich").
Then, on July 28, 2022, Bausch issued an update on the Xifaxan patent dispute case between Bausch and Norwich, in which the court ruled that certain Bausch patents were invalid.
Following the update, market analysts downgraded Bausch, and the Company's stock price fell $3.58 per share, or 41.24%, to close at $5.10 per share on July 28, 2022.
The complaint alleges that defendants made false and/or misleading statements about the Company’s spinoff of the Bausch + Lomb Corporation (“B+L”), including the benefits it would provide for Bausch shareholders and the effects it would have on Bausch post-spinoff. The complaint also alleges that the spinoff was done not to benefit shareholders but instead to undermine plaintiff lawsuits stemming from securities laws violations in 2016.
If you purchased or otherwise acquired Bausch shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.