Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Bausch Health Companies Inc. (BHC)

Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 25, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Bausch Health Companies Inc. (“Bausch” or the “Company”) (NYSE: BHC) securities between August 6, 2020 and May 3, 2023, inclusive (the “Class Period”).

If you suffered a loss on your Bausch investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Bausch-Health-Companies-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On May 4, 2023, Bausch released its first quarter 2023 financial results, revealing negative earnings, indicating further delay of its B+L spinoff share distribution, which had been originally scheduled for May 2022. Analysts claimed that the probability of a distribution was now less than 50% and unlikely to occur in the near term.

On this news, Bausch’s stock price fell $1.51, or 25.3%, to close at $5.89 per share on May 4, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the B+L spinoff would not result in two strong separate companies; (2) without B+L, Bausch was left overly leveraged and without the cashflow generated by B+L; (3) distribution of the B+L spinoff shares would not occur as represented; (4) the above statements omitted and/or concealed the potential damages Bausch faced from the Opt-Out Plaintiffs; (5) the spinoff was not intended to benefit Bausch shareholders but instead designed to subvert the Opt-Out Plaintiffs’ lawsuit against the company; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Bausch securities during the Class Period, you may move the Court no later than September 25, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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