Valeant Pharmaceuticals Defeats Hedge Fund’s Price Gouging Claims

Valeant Pharmaceuticals International Inc. knocked out state law claims in one of dozens of lawsuits alleging the company misled investors about a price gouging scheme and ties to a mail-order pharmacy.

Hedge fund Hound Partners LLC’s suit against Valeant, which changed its name to Bausch Health Companies Inc. in July, is so tied to 30 other suits and a class action based on similar allegations that a federal securities litigation law bars Hound Partners’ state law claims, Judge Michael A. Shipp of the U.S. District Court for the District of New Jersey ruled.

The law, the Securities Litigation Uniform ...