SAN FRANCISCO, Dec. 02, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors with over $500,000 in losses in their investments in Valeant Pharmaceuticals International, Inc. (NYSE: VRX ) of the December 21, 2015 lead plaintiff deadline in the securities fraud class action related to the allegations that Valeant may have issued misleading information to investors.
If you have substantial losses in your investments in Valeant or have knowledge relevant to the investigation, contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000, emailing valeant@hbsslaw.com or visiting http://www.hbsslaw.com/cases/vrx . The case was filed in the U.S. District Court for the District of New Jersey on behalf of shareholders who purchased Valeant common stock between February 28, 2014 and October 21, 2015 .
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. On this news, shares of Valeant fell $13.73 per share or over 7% to close at $163.83 per share on October 19, 2015.
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. Citron’s report stated that it “believes the whole thing is a fraud to create invoices to deceive the auditors and book revenue.” On this news, shares of Valeant fell sharply during intraday trading on October 21, 2015, damaging investors. VRX tumbled about 40 percent before recovering some of its value and by the end of the day, the stock had declined a total of 19 percent, or $28.13, to drop to $118.61, while broader indexes were nearly flat.
If you have suffered losses of over $500,000 in your investments in Valeant between February 28, 2014 and October 21, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Whistleblowers: Persons with non-public information regarding Valeant should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the SEC whistleblower program, whistleblowers who provide original information may receive rewards up to 30 percent of any successful recovery made by the SEC. For more information concerning your whistleblower options, call Reed Kathrein at (510) 725-3000 or email valeant@hbsslaw.com .
Hagens Berman is headquartered in Seattle, Washington with offices in nine cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com . Read the Firm’s Securities Newsletter at http://www.hbsslaw.com/hagens-berman-investor...newsletter , and visit the blog at www.meaningfuldisclosure.com . For the latest news visit http://www.hbsslaw.com/cases/pressreleases or follow us on Twitter at @classactionlaw .
Contact: Reed Kathrein, (510) 725-3000
