Bausch Health Sheds Investors' Spinoff, Drug Patent Lawsuit

Bausch Health defeated investor fraud allegations in federal court. Judge Zahid N. Quraishi dismissed the proposed class action with finality, ruling investors failed to sufficiently allege false or misleading statements after multiple pleading attempts. The case centered on claims Bausch Health concealed the true reasons for spinning off Bausch & Lomb and misrepresented drug patent strength. The court found the fraud allegations inadequately supported.