NEW YORK, June 19, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Valeant Pharmaceuticals International, Inc. ("Valeant" or the "Company") (NYSE: VRX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Valeant and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 18, 2018, Valeant's Ortho Dermatologics division announced receipt of a Complete Response Letter ("CRL") from the U.S. Food and Drug Administration regarding the its New Drug Application for DUOBRII (halobetasol propionate and tazarotene) (IDP-118) lotion in the treatment of plaque psoriasis. In a press release, Valeant's Chairman and Chief Executive Officer Joseph C. Papa stated that the CRL raised "questions regarding pharmacokinetic data" for DUOBRII.
Following this announcement, Valeant's share price fell $3.30, or 12.29%, to close at $23.56 on June 18, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP