October 22, 2015
Bernstein Liebhard LLP is investigating whether Valeant Pharmaceuticals International, Inc. (“Valeant” or the “Company”) (NYSE: VRX) violated the federal securities laws by making misstatements concerning the Company’s business. The investigation concerns whether Valeant and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 19, 2015, Southern Investigative Reporting Foundation issued a report on Valeant revealing an undisclosed relationship between Valeant and specialty pharmacy Philidor Rx Services. Following this news, shares of Valeant fell $13.73 or over 7% to close at $163.83 on October 19, 2015.
Two days later, on October 21, 2015, Citron Research issued a report on Valeant asserting, among other things, that Valeant and Philidor have created an entire network of phantom captive pharmacies to create fake sales of drugs or to avoid scrutiny from auditors.
Following this news, shares of Valeant fell $28.13 or 19.17% to close at 118.61 on October 21, 2015.
If you have lost money in Valeant, are interested in discussing your rights as a Valeant shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.