TORONTO, Nov. 25, 2015 /CNW/ - Koskie Minsky LLP and Sutts, Strosberg LLP announce the addition of the accounting firm PriceWaterhouseCoopers LLP, Valeant's auditor, as another defendant in the proposed class action against Valeant Pharmaceuticals International, Inc. (TSX and NYSE: "VRX"), and certain of the company's senior officers, including its current CEO, J. Michael Pearson.
The proposed class action includes all persons who purchased or otherwise acquired Valeant's securities between January 1, 2013 and November 16, 2015.
The class action alleges, among other things, that Valeant did not publicly disclose its relationship with Philidor Rx Services LLC, a mail order pharmacy.
PriceWaterhouseCoopers LLP was engaged to audit Valeant's consolidated financial statements during the class period. The class action alleges PriceWaterhouseCoopers LLP knew or ought to have known that Valeant's financial statements were not accurate or reliable.
Koskie Minsky LLP, based in Toronto, is one of Canada's leading firms in the areas of class actions, trade union labour law, employment law, civil litigation and pension & benefits. Its class actions team has been a leader in class actions since 1992 and has prosecuted many of the leading cases in the area.
Sutts, Strosberg LLP is one of the preeminent class action law firms in Canada. It has been involved in many of the most important class action decisions in the country and has recovered more than $1.5 billion for its clients.
SOURCE Koskie Minsky LLP