Try :SetCanWrap(true)
Code:
Label = WINDOW_MANAGER:CreateControl("Somename_ContentsLabel", ScrollContainer, CT_LABEL)
Label:SetAnchorFill(Editbox)
Label:SetDrawLayer(0)
Label:SetDrawLevel(3)
Label:SetDrawTier(1)
Label:SetMouseEnabled(true)
Label:SetCanWrap(true)