NEW YORK, Nov. 20, 2015 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Valeant Pharmaceuticals International, Inc. (NYSE: VRX ) securities from February 28, 2014 through October 21, 2015, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Valeant investors under the federal securities laws.
To join the Valeant class action, go to the firm’s website at http://rosenlegal.com/cases-757.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The lawsuit is pending in U.S. District Court for the District of New Jersey. NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. According to the lawsuit, throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Valeant had deficient internal controls, (2) Valeant had a relationship with a network of specialty pharmacies used to boost Valeant’s sales of its high-priced drugs; (3) the use of specialty pharmacies left Valeant vulnerable to increased regulatory risks, (4) Defendants were under government scrutiny for its financial assistance programs for patients, pricing decisions and the distribution of its products, (5) Valeant faced the risk of scrutiny over its price increases, (6) without using specialty pharmacies, Valeant’s financial performance would be negatively impacted, (7) without using specialty pharmacies, Valeant’s Class Period performance would have been negatively impacted, (8) Valeant’s true relationship with Philidor and the extent of that relationship, (9) Valeant controlled Philidor, (10) Valeant’s subsidiary KGA had a secured lien interest on Philidor’s ownership, (11) Defendants were engaged in a scheme to manipulate Valeant’s stock price, and (12) as a result, Valeant’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 21, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-757.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com .
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.com
