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Bausch & Lomb shareholder sues to block private equity sale

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A Bausch & Lomb shareholder has filed suit to stop the company's sale to the private equity firm Warburg Pincus.

Philadelphia-based First Derivative Traders LP alleges that Bausch & Lomb's description of the sale terms to its investors was "materially false and misleading." The plaintiffs are seeking to block the shareholder vote on the merger and are seeking monetary damages if the merger is approved.

Shareholders are slated to vote on the sale on Sept. 21. If approved, Bausch & Lomb shareholders will receive $65 per share for a total of $3.67 billion.