NEW YORK, May 26 – LAWFUEL – Press release service – Zwerling, Schachter & Zwerling, LLP
(“Zwerling Schachter”) has filed a class action lawsuit in the United
States District Court for the Eastern District of New York on behalf of all
persons and entities who purchased the common stock of Bausch & Lomb,
Incorporated (“Bausch & Lomb” or the “Company”) (NYSE: BOL) during the
period from October 26, 2005 through May 3, 2006, inclusive (the “Class
Period”).
If you wish to discuss this securities matter, or have any questions
concerning your rights and interests with respect to this class action
litigation, please contact Shaye J. Fuchs, Esq. or Jayne Nykolyn at
1-800-721-3900 or by e-mail at sfuchs@zsz.com and jnykolyn@zsz.com.
The complaint alleges that defendants violated Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder by issuing materially false and misleading statements during the
Class Period which caused Bausch & Lomb shares to trade at artificially
inflated prices. These statements were allegedly materially false and
misleading when made because defendants failed to disclose that: (a) one of the Company’s lead products, ReNu(R) with MoistureLoc(R) (“ReNu”), was
strongly linked to eye infections; (b) quality control issues, including at the Company’s Greenville, South Carolina plant, where ReNu is manufactured, existed and were not fully and properly addressed; and (c) the disproportionate number of Fusarium keratitis cases involving Renu users
would result in increased scrutiny of the Company by both the FDA and CDC
which could require a removal of the product from the market.
On April 10, 2006, after the market closed, Bausch & Lomb announced
that the Company was temporarily suspending U.S. shipments of ReNu produced at its Greenville, South Carolina manufacturing plant and would further investigate reports of Fusarium keratitis among contact lens wearers in the U.S. On this news, the price of Bausch & Lomb common stock fell nearly $12 a share over the next two days, closing at $45.61 on April 12, 2006.
On May 3, 2006, The Wall Street Journal (“WSJ”) reported that eye
fungus cases may broaden the scrutiny of Bausch & Lomb’s lens products. The WSJ noted that cases of Fusarium keratitis (a rare eye infection) were
found among users of the Company’s ReNu contact lens solution in Europe. On this news, Bausch & Lomb common stock closed at $43.97, down $4.78 a share on May 3, 2006.
If you purchased the common stock of Bausch & Lomb during the period of October 26, 2005 through May 3, 2006, inclusive, you may apply to serve as lead plaintiff. The deadline to move the Court seeking to be appointed lead plaintiff is July 25, 2006. The lead plaintiff is responsible for
overseeing the prosecution of the action and ensuring that the interests of the class are protected. You may apply to be appointed lead plaintiff
through Zwerling Schachter.
Zwerling Schachter concentrates in prosecuting class actions nationwide on behalf of investors. The firm currently plays a leading role in numerous major securities, antitrust and complex commercial litigations pending in
federal and state courts and has offices in New York City, Garden City, New
York, Boca Raton, Florida and Seattle, Washington. The firm has been
recognized by courts throughout the country as highly experienced and
skilled in complex litigation, particularly with respect to federal
securities class action litigation.
Visit our website at: http://www.zsz.com.
