A securities class action has been filed against Bausch Health Companies Inc. (BHC) on behalf of purchasers of securities of Bausch Health between August 6, 2020 through May 3, 2023.  This case has been filed in the USDC – NJ.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Bausch + Lomb Corporation (“B+L”) spinoff would not result in two strong separate companies; (2) without B+L, Bausch was left overly leveraged and without the cashflow generated by B+L; (3) distribution of the B+L spinoff shares would not occur as represented; (4) the above statements omitted and/or concealed the potential damages Bausch faced from the multiple hedge funds and institutional investors who “opted out” of the class action settlement in favor of pursuing individual claims (“Opt-Out Plaintiffs”); and (5) the spinoff was not intended to benefit Bausch shareholders but instead designed to subvert the Opt-Out Plaintiffs’ lawsuit against the company. When the true details entered the market, the lawsuit claims that investors suffered damages.