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Quebec Superior Court Grants BlackRock® Plaintiffs Leave to Bring an Action in Damages Against Valeant Under the Quebec Securities Act

TORONTO, Feb. 07, 2020 (GLOBE NEWSWIRE) -- On February 3, 2020, the Quebec Superior Court granted BlackRock Asset Management Canada Limited, iShares Trust, iShares, Inc. and BlackRock Institutional Trust Company, N.A. (collectively, the “Plaintiffs”) authorization to pursue a secondary market claim under Title VIII, Chapter II, Division II of the Quebec Securities Act (“QSA”) in relation to Valeant Pharmaceuticals International, Inc. (n/k/a Bausch Health Companies Inc.) (“Valeant”) shares purchased from February 28, 2013 to August 10, 2016.

Authorization under the QSA has been granted against Valeant and certain of its former officers and directors—namely, J. Michael Pearson, Howard B. Schiller, Robert L. Rosiello, Robert A. Ingram, Ronald H. Farmer, Theo Melas-Kyriazi, G. Mason Morfit, Dr. Laurence Paul, Robert N. Power, Norma A. Provencio, Lloyd M. Segal, Katharine B. Stevenson, Fred Hassan, Colleen Goggins, and Jeffrey W. Ubben (collectively, the “Defendants”). The Plaintiffs’ claim is based on allegations that Valeant’s filings with securities regulators in Canada and the United States contained materially false or misleading statements regarding Valeant’s business practices, financial results, and other material facts. The Defendants dispute the Plaintiffs’ claim.

The Plaintiffs are represented by Belleau Lapointe, LLP and Lieff Cabraser Heimann & Bernstein, LLP.

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Contact for Media:
Maeve Hannigan
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Email: Maeve.Hannigan@blackrock.com