Valeant Pharmaceuticals International Inc. has been selling assets, paying down debt and riding a recovery of its shares from their lowest point last spring. But one big uncertainty — its potential legal costs — just got bigger.
Lord Abbett & Co., the mutual fund company, filed a securities fraud lawsuit against Valeant on Aug. 23 alleging that it bought shares in the drug giant at an artificially high price because of misinformation provided by Valeant (Lord Abbett Inv. Trust-Lord Abbett Short Duration Income Fund v. Valeant Pharm. Int’l Inc., D.N.J., 17-cv-06365, complaint 8/23/17). The suit, filed in federal ...
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