Superior Court of Quebec, Court File No.: 540-17-011743159

This securities class action relates to Valeant Pharmaceuticals publishing core documents and making other statements containing misrepresentations regarding: (1) its policies and accounting practices in relation to the acquisition of new corporate entities; (2) its relationship with speciality pharmacies such as Philidor RX Services LLC and the business practices of those specialty pharmacies; and (3) its policies and accounting practices in relation to the recognition of revenue.

The Plaintiff’s Motion for Authorization is scheduled to be heard in Montreal on April 24, 2017 to April 28, 2017.

On April 28, 2017, the United States District Court for the District of New Jersey denied Valeant’s motion to dismiss the corresponding U.S. securities class action.  A copy of the decision can be found here.

Claim Issued: October 26, 2015 (Quebec) and November 16, 2015 (Ontario)

Class Period: February 28, 2013 to October 26, 2015

Shareholders’ Canadian Counsel: Andrew J. Morganti, Morganti Legal; and Shawn Faguy, Faguy & Co.

Shareholders’ U.S. Counsel: James E. Barz, Robbins Geller Rudman & Dowd LLP

Corporate Defendants’ Canadian Counsel: Osler, Hoskin & Harcourt LLP

Defendant Howard B. Schiller’s Canadian Counsel: BCF LLP

Auditor Defendant’s Canadian Counsel: Fasken Martineau DuMoulin LLP

Underwriter Defendant’s Canadian Counsel: Torys LLP

Corporate Defendants’ U.S. Counsel: Paul C. Curnin, Simpson Thacher & Bartlett, LLP; and Eric T. Vissichelli, McCarter & English, LLP

Defendant Howard B. Schiller’s U.S. Counsel: James S. Richter, Winston & Strawn, LLP

Auditor Defendant’s U.S. Counsel: A. Ross Pearlson and James M. Van Splinter, Chiesa Shahinian & Giantomasi PC

 

For more information about this action, or to obtain a copy of the most recent statement of claim, please contact the Firm at info@morgantilegal.com.