A settlement agreement has been approved by the Superior Court of Québec in a securities class action against Valeant Pharmaceuticals International Inc.

MONTREAL, Nov. 27, 2020 /CNW/ -- The law firms of Faguy & Co. Inc., Siskinds LLP, Siskinds Desmeules, Koskie Minsky LLP, Strosberg Sasso Sutts LLP, Rochon Genova LLP, Morganti & Co. P.C. and Investigation Counsel P.C. announce that on November 16, 2020, the Superior Court of Québec approved a settlement agreement ("Settlement") between the Plaintiffs and Valeant Pharmaceuticals International Inc. (now Bausch Health Companies Inc.) ("Valeant") on behalf of all of the remaining Defendants in Court File No. 500-06-000783-163 ("Action"). The Settlement has been approved without any admission of liability on the part of the Defendants.

The Settlement provides, among other things, for payment by Valeant of CAD$94 million in settlement of the claims asserted, or which could have been asserted in the Action, plus an additional CAD$3 million in respect of administration expenses and litigation disbursements, all for the benefit of class members.

Details of the approval of the Settlement including the process for Class Members to make a claim by February 15, 2021 are available by consulting the links below. The deadline by which Class Members must file claims is February 15, 2021.

The judgment of the Superior Court of Québec and other information in both English and French are available on class counsel's website at http://faguyco.com/portfolio/valeant-class-action as well as on the Registre des actions collectives at www.ValeantSecuritiesSettlement.ca.

For any inquiries, please contact class counsel representing Class Members:

SOURCE Superior Court of Québec