NEW YORK, Oct. 27, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Valeant Pharmaceuticals International, Inc. ("Valeant" or the "Company") (NYSE: VRX), concerning whether the board has breached its fiduciary duties to shareholders.
On October 19, 2015, the Southern Investigative Reporting Foundation reported that Valeant has an undisclosed relationship with a specialty pharmacy called Philidor Rx ("Philidor").
Two days later, on October 21, 2015, Citron Research issued a report alleging that Valeant and Philidor have conspired to create a network of phantom captive pharmacies to fabricate fake drug sales and avoid scrutiny from auditors.
On this news, Valeant stock is down nearly $50 per share.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Valeant shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Email: [email protected]
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Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP