Public Pension Fund Intends to File Expanded Securities Class Action Claims Against Bausch & Lomb Inc. Based on the Company's Concealment of Eye Infec

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Overig advies 07/05/2006 08:54
NEW YORK, NY -- (MARKET WIRE) -- 05/05/2006 -- The law firm of Bernstein Litowitz Berger & Grossmann LLP today announced that it has been retained by the Police and Fire Retirement System of the City of Detroit ("Detroit Police and Fire") to pursue a securities class action on behalf of all persons who purchased securities of Bausch & Lomb Inc. ("Bausch & Lomb" or the "Company") (NYSE: BOL) between January 27, 2005 and May 3, 2006, inclusive (the "Expanded Class Period"). This notice relates to prior notices that have been published about the filing of class action lawsuits in the United States District Court for the Southern District of New York on behalf of all persons who purchased securities of Bausch & Lomb during the period between January 27, 2005 and December 22, 2005. As indicated in the prior notices, the deadline by which any member of the Class may file a motion for appointment as lead plaintiff in the pending lawsuits is May 12, 2006. The previously announced lawsuits assert claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") on behalf of Bausch & Lomb investors based on the Company's improper accounting for the financial results of its Brazilian subsidiary.

Detroit Police and Fire intends to seek appointment as lead plaintiff to pursue claims on behalf of all purchasers of Bausch & Lomb securities during the Expanded Class Period. In addition to the claims that are asserted in the previously announced lawsuits, Detroit Police and Fire intends to file a complaint asserting claims under Sections 10(b) and 20(a) of the Exchange Act based on the Company's misleading statements and omissions about the safety of its ReNu contact lens cleaning products. Contrary to the Company's prior representations regarding the safety of ReNu, it has been revealed that ReNu is linked to microbial keratitis, an infection caused by the Fusarium fungus that can cause blindness and require corneal transplants. More than 30 million Americans wear contact lenses, and Bausch & Lomb's products are used by about one in four to clean them. Unbeknownst to investors, health authorities in Hong Kong informed Bausch & Lomb that some users of ReNu had caught eye infections as early as June 2005. The Hong Kong health authorities began investigating an outbreak of such eye infections in July and August 2005 and contacted Bausch & Lomb for information in the following months. Despite being aware of these facts, the Company failed to warn the public and continued to market and sell ReNu as a safe product. The recent revelations about ReNu raised issues concerning the accuracy of the Company's prior positive statements about its products and business operations and caused massive losses for purchasers of the Company's securities.

Detroit Police and Fire is a public pension fund with more than $3.8 billion of net assets held in trust as of June 30, 2005 for the benefit of the active and retired police officers and firefighters of the City of Detroit, Michigan.

If you are a member of the Class, you may move the Court, through counsel of your choice, for appointment as lead plaintiff by no later than May 12, 2006. A lead plaintiff is a representative party that acts on behalf of other Class members in directing the litigation. A Class member need not seek appointment as lead plaintiff to share in any recovery. To be a member of the Class, as distinct from lead plaintiff, you need not take any action at this time. For additional information, you may contact: Gerald H. Silk or Jai Chandrasekhar, Bernstein Litowitz Berger & Grossmann LLP, 1285 Avenue of the Americas, 38th Floor, New York, N.Y. 10019, telephone (212) 554-1400.

CONTACT:
Bernstein Litowitz Berger & Grossmann LLP
New York, N.Y.
Gerald H. Silk
(212) 554-1400
Jerry@blbglaw.com



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