Valeant Pharmaceuticals Class Action Lawsuit

Active Action

Siskinds LLP (“Siskinds”) is co-counsel in proposed securities class actions against Valeant Pharmaceuticals International, Inc. (“Valeant”), certain of its directors and officers, and its auditor PricewaterhouseCoopers LLP (“PwC”). These class actions arise from the circumstances surrounding Valeant’s previously undisclosed relationships with Philidor Rx Services, LLC and other specialty pharmacies in the conduct of its business in the United States.

In October 2015, Siskinds’ Quebec affiliate law firm, Siskinds Desmeules, filed a securities class action against Valeant and certain other defendants. Siskinds Desmeules and its co-counsel have appeared before the Superior Court of Quebec and have set a schedule to advance the action expeditiously.

Siskinds is also co-counsel in a parallel Ontario action currently pending before the Ontario Superior Court of Justice.

The class actions have been brought on behalf of a class of investors who purchased Valeant’s common shares and notes. If you purchased Valeant’s common shares or notes, please click the ‘Receive updates on this case’ button below and complete the form. Your information will be held in strict confidence. By completing the form, you are not retaining Siskinds, nor do you incur any obligations in connection with this lawsuit.

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Developments

On April 20, 2018, the class action plaintiffs issued the Authorization (Certification) Notice pursuant to an order of Justice Chatelain of the Quebec Court dated April 6, 2018.  The Authorization (Certification) Notice contains important information regarding this class action.  If you acquired Valeant’s securities between February 28, 2013 and October 26, 2015, you should review the Authorization (Certification) Notice as it may affect your legal rights.  The Authorization (Certification) Notice is available here (in English) and here (in French).

On November 30, 2017, the Court of Appeal for Quebec dismissed the application brought by the defendants for leave to commence an appeal from the authorization order of the Honourable Justice Chatelain. Accordingly, the authorization order became final.

ON October 25, 2017, further to the Order of Justice Chantal Chatelain authorizing the class action, the class action plaintiffs filed the judicial application originating class proceeding.

On August 29, 2017, Québec’s Superior Court granted authorization (or leave under the Québec Securities Act) to commence a secondary market shareholder class action against Valeant, Valeant’s current or former directors or officers J. Michael Pearson, Howard B. Schiller, Robert L. Rosiello, Robert A. Ingram, Ronald H. Farmer, Theo Melas-Kyriazi, G. Mason Morfit, Laurence Paul, Robert N. Power, Norma A. Provencio, Lloyd M. Segal, Katharine B. Stevenson, Fred Hassan, Colleen Goggins, Anders O. Lonner and Jeffrey W. Ubben, and Valeant’s auditors, PricewaterhouseCoopers LLP.  The Court’s judgment and order is available here.  In accordance with the Québec Securities Act, the class action plaintiffs have issued press releases regarding the Court’s granting of leave, which are available here (English) and here (French).

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