Bausch Health Companies Inc.

Berger Montague (Canada) PC, is an international shareholders’ rights law firm with experienced lawyers focused on litigating investors’ rights across Canada and the United States of America with an office in Toronto, Ontario. We have been retained by investors and a proposed class (group) of investors who acquired BHC’s securities between April 2, 2020 and May 2, 2024 (the “Class Period”), and who held all or some of those securities until after the release of at least one of the Public Corrective Disclosures.

BHC is the successor company to Valeant Pharmaceuticals International, Inc. (“Valeant”). During the mid-2010’s, Valeant was subject to numerous securities fraud investigations relating to accounting irregularities and a target of shareholder class actions in Canada and the United States, which were settled in 2020 and 2021. At that time, BHC was aware of the identification of the investors that chose to opt-out of those settlements and who continued to seek heightened damages from BHC in amounts equal to or greater than BHC’s market capitalization. This shareholder class action alleges that BHC knew, or was negligent in not recognizing, that the opt-out investors’ damages equaled approximately the value of BHC’s goodwill (excluding Bausch and Lomb Vision Care, Surgical and Pharmaceuticals, which it was spinning out of BHC – “B+L”), or 100% of its available cash. Despite this information, BHC released statements that these opt-out claims were not a material risk to BHC.

In April of 2023, there were a number of statements that corrected BHC’s original statements to the markets that opt-out investors’ litigation (and BHC’s attempt to spin-out B+ L may have been fraudulently conducted) were insignificant/non-material. When the truth came out, BHC investors lost substantial amounts of money as the share price sharply declined.

If you have questions about this shareholder class action, please contact us at (647) 576-7840, or by email at [email protected].