TORONTO, Nov. 17, 2015 /CNW/ - Koskie Minsky LLP and Sutts, Strosberg LLP announce the filing in the Ontario Superior Court of Justice of a 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 action alleges, among other things, that Valeant did not publicly disclose its relationship with Philidor Rx Services LLC, a mail order pharmacy. When Valeant's relationship with Philidor was revealed, the price of Valeant's securities fell precipitously, causing significant damages to holders of Valeant's securities.
If you acquired Valeant securities, including shares or notes, between January 1, 2013 and November 16, 2015, please call 1-844-819-8502 or email [email protected].
"The action raises serious questions about how Valeant Pharmaceuticals conducted its business and affairs," explains Kirk M. Baert of Koskie Minsky LLP.
"We intend to scrutinize management's conduct and knowledge concerning its relationship with Philidor Rx Services LLC," added Jay Strosberg of Sutts, Strosberg LLP.
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