Investors urged to act on Bausch Health shares in Toronto

In Canada, Berger Montague (Canada) PC has intensified its investigation into Bausch Health Companies, Inc. (BHC), following significant legal challenges the company faced in 2020. BHC, previously known as Valeant Pharmaceuticals, settled shareholder class actions exceeding $1 billion but failed to disclose critical information regarding investors who opted out of the class action to pursue individual claims. This lack of transparency has raised concerns about the company's financial practices and the potential risks for investors. As of May 2022, BHC acknowledged 21 members involved in the Opt Out Litigation, alongside additional litigants in Ontario and Quebec. Despite being aware of these investors and their damages, BHC neglected to include this information in its quarterly reports, misleading investors about the risks associated with their investments. This negligence has led to a significant decline in BHC's share price, which fell from $12.03 to $9.42 within a ten-day look-back period under the Securities Act. The situation worsened on August 1, 2024, when BHC's share price dropped further from $8.47 to $7.20 after the company recognized its obligation to disclose all material facts related to the Opt-Out Litigation. This acknowledgment has raised alarms about the company's financial exposure, which is estimated to be in the billions, suggesting that both BHC and institutional investors may have been aware of these risks for an extended period. Investors who purchased shares of BHC between May 2, 2022, and August 1, 2024, are encouraged to reach out to Berger Montague for more information regarding the ongoing investigation and potential claims.