LEGAL GUIDES FOR INVESTORS
If you suffered losses in Bausch Health contact Bausch Health stock loss lawyer Timothy L. Miles about a Bausch Health lawsuit
The Bausch Health class action lawsuit has garnered significant attention in recent months. It seeks to represent investors who purchased or acquired Bausch Health Companies Inc. (NYSE: BHC) securities between August 6, 2020, and May 3, 2023, inclusive, during which certain top executives of the company allegedly violated the Securities Exchange Act of 1934. This article will provide a comprehensive overview of the case, including the allegations, key events, and the lead plaintiff process.
Allegations in the Bausch Health Class Action Lawsuit
Bausch Health, a pharmaceutical company with majority ownership of Bausch + Lomb Corporation ("B+L"), has faced significant legal challenges in recent years. In 2016, the company was embroiled in a securities fraud scandal, resulting in restated financial statements, a settlement with the U.S. Securities and Exchange Commission, and a class action settlement worth over $1.1 billion. Despite these challenges, Bausch Health announced plans to spin-off B+L into a separate publicly traded entity on August 6, 2020, citing improved strategic focus and financial transparency as the primary benefits of the spinoff.
However, the Bausch Health class action lawsuit alleges that the defendants made false and misleading statements throughout the Class Period. The plaintiffs claim that the B+L spinoff did not result in two strong separate companies, leaving Bausch Health overly leveraged and without the cash flow generated by B+L. Furthermore, the distribution of the B+L spinoff shares did not occur as represented. The lawsuit also alleges that Bausch Health omitted and concealed the potential damages it faced from securities fraud litigation, and that the spinoff was designed to subvert the plaintiffs' lawsuit against the company.
Key Events and Impact on Investors
Several key events have unfolded during the Class Period, impacting Bausch Health's stock price and investor confidence. On May 4, 2021, the company discussed the leverage ratios of Bausch Health and B+L, revealing that B+L would be financially stronger than Bausch Health post-spinoff. This announcement caused the price of Bausch Health shares to decline by more than 11%.
Between May 6 and 10, 2022, B+L began trading separately, and Bausch Health reported weak financial results for the first quarter of 2022. Analysts interpreted these results as indicative of further delays in the distribution of B+L shares from the spinoff, leading to a decline of over 41% in Bausch Health's stock price as investors suffered losses in Bausch Health stock.
In July 2022, Bausch Health faced negative news regarding an ongoing litigation dispute over its use of the Xifaxan patent. This development suggested that the company would have a shortened period of exclusive use and, consequently, face additional revenue shortfalls. The news also indicated further delay in the distribution of B+L shares, causing Bausch Health's stock price to decline by nearly 47% again as investors suffered losses in Bausch Health stock.
Finally, on May 4, 2023, Bausch Health announced negative earnings results for the first quarter of 2023, reinforcing the possibility of further delays in the B+L share distribution. Analysts expressed skepticism about the distribution occurring in the near term, leading to a decline of more than 20% in Bausch Health's stock price as investors suffered losses in Bausch Health stock.
The Lead Plaintiff Process
The Private Securities Litigation Reform Act of 1995 allows any investor who purchased or acquired Bausch Health securities during the Class Period to seek appointment as the lead plaintiff in the Bausch Health class action lawsuit. The lead plaintiff is typically the investor with the greatest financial interest in the relief sought by the putative class, representing the interests of all other class members. The lead plaintiff has the authority to select a law firm to litigate the case. It's important to note that an investor's ability to share in any potential future recovery is not dependent on serving as the lead plaintiff.
To be eligible for appointment as the lead plaintiff in the Bausch Health class action lawsuit, investors must file a lead plaintiff motion with the court no later than September 25, 2023. This motion should demonstrate that the investor suffered substantial losses during the Class Period and is representative of the putative class.
Benefits of Serving as Lead Plaintiff
Serving as the lead plaintiff in the Bausch Health class action lawsuit offers several advantages and benefits. The lead plaintiff has the opportunity to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel. They can also actively participate in the management of the litigation, overseeing the progress of the action, reviewing important filings, and providing input on the prosecution of the case. Additionally, the lead plaintiff is involved in all negotiations relating to any potential settlement. It is worth noting that serving as the lead plaintiff does not entail any financial risk, as the lead counsel covers all costs and expenses incurred in the prosecution of the case.
Furthermore, lead plaintiffs who continue to hold Bausch Health stock may benefit from governance reforms resulting from the litigation. This long-term impact can provide additional value to investors who suffered losses in Bausch Health stock.
The Bausch Health class action lawsuit represents an important legal battle for investors who suffered losses in Bausch Health stock. The allegations against the company and its top executives highlight concerns about false and misleading statements, as well as potential damages resulting from securities fraud litigation. Understanding the lead plaintiff process and the benefits it offers can empower affected investors to actively participate in seeking justice. If you believe you are eligible to serve as the lead plaintiff, it is crucial to consult with aBausch Health stock loss lawyer who can guide you through the legal process and fight to recover your damages.
CONTACT A BAUSCH HEALTH STOCK LOSS LAWYER TODAY IF YOU SUFFERED IN LOSSES BAUSCH HEALTH STOCK ABOUT A BAUSCH HEALTH CLASS ACTION LOSSES LAWSUIT
If you suffered losses in Bausch Health stock, contact Bausch Health stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against Bausch Health. Call today and see what a Bausch Health stock loss lawyer can do for you.
BAUSCH HEALTH STOCK LOSS LAWYER TIMOTHY L. MILES
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
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