The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Bausch Health Companies Inc. who purchased securities between August 6, 2020 and May 3, 2023.
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. Defendants’ statements about the B+L spinoff have caused significant damages for Bausch investors. On August 6, 2020, when the spinoff was announced, Bausch’s stock closed at $20.13 per share. The stock traded as high as $34.38 per share before falling to its current trading prices of under $10 per share.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 25, 2023 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.