Valeant Pharmaceuticals International, Inc. – December 5, 2019
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).