Do you have a loss of $100,000 or more in Valeant Pharmaceuticals International (NYSE: VRX) stock?
Contact us or fill out the form on the left to learn about your rights.
Call 1-800-221-0015 or email us at info@SafirsteinMetcalf.com
A class action against Valeant Pharmaceuticals International Inc. (NYSE: VRX) is currently being litigated in the United States District Court for the District of New Jersey. The shareholders in the action have accused the defendants of boosting Valeant’s stock price for years by hushing up unsavory and illegal elements of its business strategy.
Valeant’s stock price has dropped from more than $250 a share in 2015 to below $10 today. The company has been criticized for jacking up prices on vital drugs and using pharmacies that it secretly controlled to quell pushback from doctors and patients.
Reports have claimed that Valeant refilled patients’ prescriptions without their permission and steered them to more expensive drugs in order to boost sales and profits, leading to investors to potentially overvalue the company.
Do you have a loss of $100,000 or more in Valeant stock? Did you purchase Valeant stock before March 2016? Contact us to discuss your rights.
If you would like more information about the Valeant Class Action, please fill out the form to the left, or contact Sheila Feerick at 1-800-221-0015, or email info@SafirsteinMetcalf.com. Safirstein Metcalf LLP represents individual and institutional clients in a wide variety of litigation, with an emphasis on class, derivative, and other complex actions on behalf of investors and consumers. The firm handles matters on a contingency fee basis.
According to recent news, Valeant has paid down another $220 million worth of its roughly-$30 billion in debt, using the proceeds from the sale of three of its skincare brands to L’Oréal.
However, according to analysts, Valeant spends a ton of money on SG&A and cost of goods; Valeant’s debt reduction plan will only make a tiny dent in its quarterly interest payments; and the company is getting low on cash again, and may need to raise funds soon.