Levi & Korsinsky, LLP announces the filing of a class action lawsuit in the United States District Court for the District of New Jersey on behalf of shareholders of Valeant Pharmaceuticals International, Inc. (NYSE: VRX) who purchased shares between February 23, 2015 and October 20, 2015.
The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information about the Company’s business and prospects, including that: (a) the Company was using a network of specialty mail-order pharmacies that it actually controlled to prop up sales of its high-priced drugs and to keep patients and their insurance companies from switching to less costly generic drugs; (b) that Valeant’s undisclosed use of specialty pharmacies left it subject to increased regulatory risks; and (c) that without the use of the specialty pharmacies, Valeant’s financial performance and Class Period financial guidance would have been negatively impacted. As a result of these false and misleading statements and/or omissions, Valeant stock traded at artificially inflated prices during the Class Period, reaching over $260 per share. If you suffered a loss in Valeant Pharmaceuticals you have until December 21, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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