Bausch Health Faces Shareholder Class Action Lawsuit: Johnson Fistel Encourages Investors to Seek Compensation for Alleged Wrongdoings (BHC)
Johnson Fistel, LLP, a shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of Bausch Health Companies, Inc. (“Bausch” or “the Company”) (NYSE: BHC) investors who acquired securities between August 6, 2020 and May 3, 2023, inclusive (the “Class Period”). If you are a shareholder who incurred losses during this period, you have until September 25, 2023, to move the court to become a lead plaintiff in this action.
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According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Bausch + Lomb Corporation (“B+L”) spinoff would not result in two strong separate companies; (2) without B+L, Bausch was left overly leveraged and without the cashflow generated by B+L; (3) distribution of the B+L spinoff shares would not occur as represented; (4) the above statements omitted and/or concealed the potential damages Bausch faced from the multiple hedge funds and institutional investors who “opted out” of the class action settlement in favor of pursuing individual claims (“Opt-Out Plaintiffs”); and (5) the spinoff was not intended to benefit Bausch shareholders but instead designed to subvert the Opt-Out Plaintiffs’ lawsuit against the company. When the true details entered the market, the lawsuit claims that investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
Johnson Fistel, LLP is a shareholder rights law firm representing individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information, visit their website http://www.johnsonfistel.com.
Johnson Fistel, LLP
Jim Baker, 619-814-4471