LOS ANGELES, July 28, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Bausch Health Companies Inc. ("Bausch" or the “Company”) (NYSE: BHC) investors that a lawsuit filed on behalf of investors that purchased Bausch securities between August 6, 2020 and May 3, 2023, both dates inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The complaint accuses the defendants of making false and misleading statements regarding the spinoff of the Bausch + Lomb Corporation (B+L). These statements concerned the purported benefits of the spinoff for Bausch shareholders and the anticipated effects on Bausch after the spinoff. However, the complaint alleges that the real motive behind the spinoff was not to benefit shareholders but rather to undermine plaintiff lawsuits related to securities laws violations in 2016.
As a result of these allegedly deceptive statements, Bausch investors suffered significant financial losses. On August 6, 2020, when the spinoff was announced, Bausch's stock closed at $20.13 per share. Subsequently, the stock reached a high of $34.38 per share before sharply declining to its current trading value of under $10 per share. The drop in the stock price reflects the damages incurred by investors who relied on the defendants' misleading statements about the spinoff and its supposed benefits.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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