NEW YORK, Aug. 11, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Bausch Health Companies Inc. ("Bausch or the "Company") (NYSE: BHC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Bausch and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 3, 2021, Bausch issued a press release announcing its financial and operating results for the second quarter of 2021. Among other results, Bausch reported a net loss of $595 million compared to $236 million for the same period in 2020, citing an unfavorable change in operating results coupled with a decrease in the benefit from income taxes. Bausch also reported an operating loss of $270 million, compared to $27 million for the same period in 2020, which the Company stated was primarily driven by the increase in Other expense, primarily attributable to higher adjustments related to the settlement of certain litigation matters in the second quarter of 2021, an increase in Selling, general and administrative expenses and the impacts of a recall due to a quality issue at a third-party supplier partially offset by an increase in contribution due to the positive impacts of the recovery of the COVID-19 pandemic.
On this news, Bausch's stock price fell $3.19 per share, or 10.76%, to close at $26.46 per share on August 3, 2021.
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.