Friday, January 8, 2016
Valeant Faces Class Action Suit over Its Purchase of Bausch+Lomb
Law 360 reports that "a lens manufacturer filed a proposed class action in New Jersey federal court Tuesday over Valeant Pharmaceuticals International Inc.’s May acquisition of its sole competitor in the market for a material used in specialty contact lenses, saying the company is using its monopoly to inflate prices. Pointing to controversial business practices that have led to both U.S. Department of Justice and Federal Trade Commission inquiries, TruForm Optics Inc. alleges that Valeant’s recent acquisition — less than two years after its purchase of Bausch & Lomb." Read more.