TRENTON, NJ–A large mutual-fund group has filed a lawsuit against Valeant Pharmaceuticals International Inc., alleging the company took part in “a fraudulent scheme” that cost it billions of dollars.
The investment group, T. Rowe Price Inc., which was formerly one of Valeant’s biggest investors, but sold most of its shares in May, is claiming the company’s operating methods exposed it to “massive risks” costing shareholders dearly.