VALEANT INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates Valeant Pharmaceuticals International, Inc. for Possible Securities Fraud – VRX

NEW ORLEANS--(BUSINESS WIRE)--

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Valeant Pharmaceuticals International, Inc. VRX.

On August 9, 2016, Valeant reported its second quarter 2016 financial results. While total revenues decreased 11% as compared to the prior year quarter, the Company reconfirmed its full year 2016 guidance. "We continue to make progress towards stabilizing the organization," said Joseph C. Papa, chairman and chief executive officer. Following this news, the price of Valeant's shares rose 30%.

Then, on November 8, 2016, Valeant announced third quarter 2016 financial results, reporting sales down 11% and earnings per share down 36% versus the year-earlier quarter, and slashed its guidance for the full-year 2016, stating that total revenues were now expected to be $9.55-$9.65 billion, versus its prior range of $9.9-$10.1 billion and earnings per share were now expected to be $5.30-$5.50, versus its prior range of $6.60-$7.70. On this news, the price of Valeant's shares plummeted by 22% and it was downgraded by Moody's Investors Service.

KSF's investigation is focusing on whether Valeant and/or its officers and directors violated state or federal securities laws.

If you are a Valeant shareholder who purchased your shares on or after August 9, 2016, and have suffered losses, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

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