Valeant Pharmaceuticals International, Inc.

• November 26, 2020

  Settlement Update

  Following approval of the settlement by the Quebec Superior Court, notices of settlement approval are now available. The short form Notice of Settlement Approval can be found here: English and French. The long form Notice of Settlement Approval, which includes greater detail, can be found here: English and French.

  A CLAIM FOR COMPENSATION MUST BE MADE BY FEBRUARY 15, 2021. A copy of the Claim Form can be found here: English and French.

• November 23, 2020

  The Quebec Superior Court approved the settlement with Valeant Pharmaceuticals International, Inc. (Order available here), as well as the legal fees (Order available here) and plan of allocation (Order available here).

• October 8, 2020

  The class action plaintiffs are pleased to announce that a proposed settlement has been reached with Valeant Pharmaceuticals International, Inc., subject to court approval. A copy of the Long Form Notice is available here. A copy of the Settlement Agreement is available here.  A copy of the Plan of Allocation is available here.

  The court will decide whether they approve the settlement, the plan of allocation and class counsel’s fee request, among other matters, on Monday, November 16, 2020. Anyone wishing to access the hearing, which starts at 9:30am ET, can do so by telephone or video conference using the following information:

  By telephone:

  +1 581-319-2194 Canada, Quebec
  (833) 450-1741 Canada (Numéro gratuit/Toll Free)
  ID de conférence/Conference ID : 177 110 814#
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  By Video conference:

  Rejoindre la réunion Microsoft Teams (Microsoft Teams Meeting)

  Rejoindre à l’aide d’un dispositif de vidéoconférence? Joining through a video conference device?
  teams@teams.justice.gouv.qc.ca a ID de la conférence VTC : 1180976201
  Autres instructions relatives à la numérotation VTC

• December 5, 2019

  Further to the PWC settlement, the Consolidated Ontario action (Court File No. CV-15-541082-00CP) and the Sukenaga Ontario action (Court File No. CV-15-540567-00CP) have now been dismissed as against PwC with prejudice, the Statements of Claim have been amended and the actions have been discontinued as against the non-settling defendants without prejudice.   The Consolidated Ontario and the Sukenega Actions are different in some ways from the Catucci Action which was authorized as a class proceeding and moving forward in Quebec. The Consolidated Ontario Action names an additional defendant, Laizer D. Kornwasser. The class periods in the Sukenaga and Consolidated Ontario Actions are longer in certain respects than the class period in the Catucci Action. Because of these differences, the discontinuances of the Consolidated Ontario and the Sukenega Actions may impact your rights.  If you purchased Valeant securities between February 27, 2012 and February 28, 2013 or between October 27, 2015 and November 12, 2015, and held some or all of those securities at any point in time between October 19, 2015 and November 12, 2015, such securities are not included in the Catucci class action in Quebec and are no longer covered by the Ontario class actions. Similarly the Catucci class action does not name Laizer D. Kornwasser as a defendant.  Therefore, the limitation periods to commence any such claims are not being tolled by the Ontario class actions and you may wish to seek legal advice and take steps to protect your rights. For further information, see the Notice available here, as well as the Order in the Sukenaga action – Dismissal, Amendment and Discontinuance (available here) and the Order in the Consolidated Ontario action – (available here).

• November 26, 2019

  The Quebec Superior Court approved the settlement with PricewaterhouseCoopers LLP (Order available here), as well as the legal fees (Order available here) and plan of allocation (Order available here).

• September 10, 2019

  The class action plaintiffs are pleased to announce that a proposed settlement has been reached with PricewaterhouseCoopers LLP, subject to court approval. A copy of the Long Form Notice is available here. A copy of the Settlement Agreement is available here. A copy of the Plan of Allocation is available here.

• February 26, 2018

  The parties are now entering the discovery phase of the litigation.

• December 1, 2017

  The defendants’ motions for leave to appeal were dismissed by Justice Mainville of the Quebec Court of Appeal. A copy of Justice Mainville’s decisions is available here.

• November 22, 2017

  The hearing for the defendants’ motion for leave to appeal has concluded. Justice Mainville of the Quebec Court of Appeal has reserved his decision.

• October 30, 2017

  The motion for leave to appeal the order certifying this action as a class proceeding will be heard by the Quebec Court of Appeal on November 22, 2017.

• October 20, 2017

  The defendants have sought leave to appeal the decision of Justice Chatelain. The motion for leave to appeal will be heard on November 22, 2017.

• September 18, 2017

  Leave to proceed with the claims under the Securities Act was granted by the Quebec Superior Court. A copy of the decision is available here.

• April 29, 2017

  The hearing before Justice Chantal Chatelaine for authorization and leave to proceed with statutory claims on behalf of purchasers on the secondary market has concluded. Justice Chatelaine has reserved her decision.

• February 2, 2017

  A Fresh as Amended Statement of Claim was filed in Ontario. A copy is available here.

• November 16, 2016

  A consortium of law firms has been formed between counsel in the various Ontario actions. The Ontario action has been consolidated with the other action filed against Valeant Pharmaceuticals International, Inc. in Ontario and the Statement of Claim has been amended. The Ontario Fresh as Amended Statement of Claim is available here. The consolidated claim in Ontario has been temporarily stayed pending further order of the court. A class action on behalf of investors in Valeant is proceeding in Quebec. The motion for certification and for leave to proceed with statutory claims under the Securities Act is scheduled for April 24-27, 2017.

• June 17, 2016

  Justice Perell granted carriage of the action to Koskie Minsky LLP and Sutts, Strosberg LLP. A copy of the decision is available here.

• January 19, 2016

  A second proposed class action against Valeant and others has been filed in Ontario. A carriage motion to determine which action filed in Ontario will proceed has been scheduled to be heard on April 8, 2016.

• January 14, 2016

  The Statement of Claim is available here.

• November 17, 2015

  The plaintiff filed a notice of action, a copy of which is available here.

Show All

• November 26, 2020 Claim Form - French
• November 26, 2020 Claim Form - English
• November 26, 2020 Short Form Notice of Settlement Approval - French
• November 26, 2020 Short Form Notice of Settlement Approval - English
• November 26, 2020 Long Form Notice of Settlement Approval - French
• November 26, 2020 Long Form Notice of Settlement Approval - English
• November 23, 2020 Catucci vs Valeant - Rectified Judgment
• November 23, 2020 Catucci - Judgment Approving Plan of Allocation
• November 23, 2020 Catucci - Judgment Approving a Settlement Agreement
• October 16, 2020 Valeant Settlement - French - Plan of Allocation
• October 16, 2020 Valeant Settlement - English - Plan of Allocation
• October 8, 2020 French - Long Form Notice
• October 8, 2020 English - Long Form Notice
• October 8, 2020 Settlement Agreement
• December 9, 2019 Notice of Discontinuance of Class Actions in Ontario (regarding PwC Settlement) (English)
• December 5, 2019 Order Consolidated
• December 5, 2019 Order Sukenaga - Dismissal, Amendment and Discontinuance
• November 12, 2019 Order Approving Settlement Agreement
• November 12, 2019 Order Approving Class Counsel Fees
• November 12, 2019 Order Approving Plan of Allocation
• September 18, 2019 Plan of Allocation - French
• September 10, 2019 French Long Form Notice
• September 10, 2019 English Long Form Notice
• September 10, 2019 Plan of Allocation - English
• September 10, 2019 Settlement Agreement
• February 2, 2017 Fresh as Amended Statement of Claim
• June 10, 2016 Decision
• December 17, 2016 Statement of Claim (PWC & audit committee)
• November 17, 2015 Notice of Action

What is a class action?

A class action is a lawsuit which provides a method for a large group of people with common claims to join together to advance one large claim. Class actions are a more efficient and cost-effective way for groups of people with common claims to gain access to the legal system and seek justice.

What does certification mean?

In order for an action to proceed as a class action, the court must determine whether it is appropriate for the case to be treated as a class action. Some of the factors the courts consider are the extent to which the claims of the class members are common, and whether a class action is preferable to other methods (such as individual actions) of advancing the issues. The decision as to whether a class action should be certified takes place at a certification hearing and is decided by a judge. If certified, a representative plaintiff will advance the action on behalf of all of the class members.

How do I know if I am a Class Member?

The certification order will always contain a description of who is a class member. We post the certification orders in our actions so that you can review them. You do not need to “sign up” to become involved in a class action. If you are included in the class description, you are automatically a class member who will be affected by the outcome of the class action unless you decide to “opt out”.

Are Class Members notified of the certification of the class proceeding?

Yes. After the claim has been certified, the court will authorize notice to be given to the members of the class.

Can I opt out of a class action and pursue independent legal action?

Yes. When a class action is certified, class members are always given an opportunity to opt out of the action. A deadline is imposed for opting out. If you do not opt out by the given deadline, class members will be bound by the outcome of the class action, whether it is successful or unsuccessful. If you opt out, you will not receive any benefit if the action is successful.

Will there be any cost to class members for legal fees?

Typically, class actions are handled on a contingency fee basis, which means that the class action lawyers will be paid only if the class action is successful at trial or settled. In that case, class counsel fees may be paid by the defendants or out of the settlement or judgment proceeds as approved by the court. In addition, the plaintiff may seek funding assistance from the Class Proceeding Fund which, if funding is granted, may provide funding for disbursements.

I still have questions…

Please feel to contact us by using the contact information on this site.

Tollfree: 1-844-819-8502

Email: valeantclassaction@kmlaw.ca