NEW YORK, July 25, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Bausch Health Companies Inc. ("Bausch" or the "Company") (NASDAQ: BHC). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Bausch and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
