Valeant Pharma (VRX) sued in New York Federal court over alleged overcharges - Reuters

August 29, 2016 1:57 PM EDT

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(Updated - August 29, 2016 2:01 PM EDT)

Valeant Pharma (NYSE: VRX) was sued in New York Federal court over alleged overcharges, according to Reuters. The lawsuit was brought on behalf of so-called third party payors over alleged overcharges from January 2013 to October 2015.

Plaintiffs include New York hotel trade group's health benefits fund, and detectives endowment association of New York City, the report noted.

The lawsuit accuses Valeant of violating U.S. racketeer influenced and corrupt organizations act, or RICO, and seeks class action status, unspecified compensatory and triple damages.

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