NEW ORLEANS, Nov. 20, 2015 /PRNewswire/ -- Kahn Swick
& Foti, LLC ("KSF") and KSF partner, the former Attorney
General of Louisiana, Charles C. Foti, Jr., remind fund managers and
investors that they have until December
21, 2015 to file lead plaintiff applications in a
securities class action lawsuit against Valeant Pharmaceuticals
International, Inc. (NYSE: VRX) if they purchased the Company's
securities between February 28, 2014
through October 21, 2015, inclusive
(the "Class Period"). This action is pending in the United
States District Court for the District of New Jersey.
What You May Do
If you purchased shares of Valeant or are a fund manager,
institutional or large individual investor, and would like to
discuss your legal rights and how this case might affect you and
your right to recover for your economic loss, including through a
possible private action against Valeant, you may, without
obligation or cost to you, call toll-free at 1-877-515-1850 or
email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
If you wish to serve as a lead plaintiff in this class action, you
must petition the Court by December 21,
2015.
About the Lawsuit
Valeant and certain of its executives are charged with failing
to disclose material information during the Class Period, violating
federal securities laws.
On October 14, 2015, Valeant
reported that it was subpoenaed by U.S. prosecutors regarding its
pricing decisions, drug distribution and patient assistance
programs and that it had responded to a letter from Senator
McCaskill concerning Valeant's drugs Nitropress and Isuprel.
Then, on October 21, 2015, Citron
Research published a report alleging that Valeant is using
pharmacies related to Philidor to store inventory and record the
transactions as sales and "that Valeant/Philidor have created an
entire network of phantom captive pharmacies" to create fake sales
of drugs or to avoid scrutiny from auditors.
Following this news, the value of Valeant's shares has fallen
from over $175 per share, prior to
these adverse disclosures, to a two and a half year low of
approximately $75.00 per share.
As a result of this massive share decline, the investment of many
funds, institutions and large investors have been
decimated.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a
law firm focused on securities, antitrust and consumer class
actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New
York, California and
Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/valeant-alert-by-former-louisiana-attorney-general-kahn-swick--foti-llc-reminds-fund-managers-institutional-and-large-individual-investors-with-losses-in-excess-of-1-million-of-lead-plaintiff-deadline-in-class-action-lawsuit--300182368.html
SOURCE Kahn Swick & Foti, LLC