If you owned Sequoia Fund in 2015 to early 2016, you may have a legal claim to recover your losses. Call our office at 888-708-8754 or fill out the form for a free consultation.
What is this lawsuit investigation about?
We are investigating whether the Sequoia Fund (Nasdaq: SEQUX) damaged its shareholders in violation of law by breaching obligations to them with respect to the size of its investments in Valeant Pharmaceuticals International Inc. (“Valeant”).
Pursuant to Sequoia Fund’s concentration policy, which is stated in its offering prospectus, Sequoia Fund was not allowed to invest more than 25% of Sequoia’s assets in one industry.
In 2015, Valeant was engulfed in a scandal stemming from its practice of acquiring drugs and raising prices dramatically, drawing significant political and public scorn. Accusations soon followed by investigative journalists, investment analysts, and short-sellers, of questionable accounting and business practices, which caused Valeant’s stock price to plummet. By April 2016, Valeant had lost 90% of its value, which translated to a loss of $2.5 billion for Sequoia shareholders, and was attributable at least in part to Sequoia’s violation of its concentration policy.
The most affected shareholders would have acquired their shares in Sequoia on or before February 2015, and held through March 2016.
WE ARE STANDING BY, WAITING TO ASSIST.
Milberg Tadler Phillips Grossman LLP and Robinson Brog Leinwand Greene Genovese & Gluck P.C. are investigating potential claims for current and former owners of Sequoia Fund whose rights may have been violated.
Milberg Tadler Phillips Grossman LLP
One Pennsylvania Plaza, 19th Floor
New York, NY 10119
ABOUT SANDERS PHILLIPS GROSSMAN
Sanders Phillips Grossman has been holding pharmaceutical companies responsible for injuring individuals by their defective drugs and devices for over 30 years. Defective drugs are pharmaceuticals with side effects that potentially harm, injure, or kill the patient to the point that they outweigh the drug’s intended benefits. Defective devices, such as faulty prosthetics, implants, pacemakers, or surgical instruments can harm patients when the product is defective in the manufacturing process, design, or marketing strategy.
Pharmaceutical companies are some of the largest, wealthiest, and most influential corporate entities in the world. Sanders Phillips Grossman and its predecessors have recovered over one billion dollars for injured consumers. Our firm’s history in dealing with drug and medical device injury claims has allowed us to take leadership roles in many of the national defective drug and device litigations.
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