Valeant Faces RICO Suit In 'Secret' Pharmacy Network Row
By Kurt Orzeck (May 31, 2016, 9:56 PM EDT) -- Valeant Pharmaceuticals International Inc. was hit Friday with a proposed class action accusing the drug company and its executives of violating the Racketeer Influenced and Corrupt Organizations Act with an alleged scheme to block the company's drugs from competition through a "secret network of captive pharmacies."
The suit — filed by AirConditioning and Refrigeration Industry Health and Welfare Trust Fund, along with Fire and Police Health Care Fund, San Antonio — accuses Valeant of using the network to stifle competition and fraudulently inflate the prices of the company's products. Citron Research, a stock commentary website, previously accused Valeant of counting inventory shipments...
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