February 5, 2020 - The court preliminarily approved the settlement.

December 16, 2019 - A settlement was announced.

June 30, 2019 - The court denied the defendants' motion to dismiss.

January 14, 2019 - A motion to dismiss the amended consolidated complaint was filed.

September 20, 2018 - An amended consolidated complaint was filed.

April 28, 2017 - The court granted in part and denied in part defendants' motions to dismiss.

September 13, 2016 - A motion to dismiss the consolidated complaint was filed.

June 24, 2016 - A consolidated complaint was filed.

October 22, 2015 - An investor in shares of Valeant Pharmaceuticals Intl Inc (NYSE: VRX) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Valeant Pharmaceuticals Intl Inc in connection with certain allegedly false and misleading statements made between February 23, 2015 and October 20, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Valeant Pharmaceuticals Intl Inc (NYSE: VRX) common shares between February 23, 2015 and October 20, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 23, 2015 and October 20, 2015 defendants made allegedly false and misleading statements and/or allegedly failed to disclose adverse information about Valeant Pharmaceuticals Intl Inc’s business and prospects, including that Valeant Pharmaceuticals Intl Inc was using a network of specialty mail-order pharmacies that it actually controlled to prop up sales of its high-priced drugs and to keep patients and their insurance companies from switching to less costly generic drugs, that Valeant Pharmaceuticals Intl Inc’s undisclosed use of specialty pharmacies left it subject to increased regulatory risks, and that without the use of the specialty pharmacies, Valeant Pharmaceutical Intl Inc’s financial performance and financial guidance between February 23, 2015 and October 20, 2015 would have been negatively impacted, and that as a result of these false and misleading statements and/or omissions, Valeant Pharmaceuticals Intl Inc's stock traded at artificially inflated prices between February 23, 2015 and October 20, 2015, reaching over $260 per share. On October 2, 2015, a report titled “Citron Research Exposes the Information that Congress Will Find if it Subpoenas Valeant” was published.

The report references the United States Congress’s reportedly failed attempt to obtain documents from Valeant Pharmaceuticals Intl Inc that would justify the 525% and 212% price increases on two drugs Valeant Pharmaceuticals Intl Inc had acquired rights to, saying the requested information was “highly proprietary and confidential.” On October 14, 2015, Valeant Pharmaceuticals Intl Inc responded to a letter from Senator Claire McCaskill (D-MO) concerning the company's products Nitropress and Isuprel.

Valeant Pharmaceuticals Intl Inc said that in his response to Senator McCaskill, J. Michael Pearson, the chairman of the board and chief executive officer of Valeant Pharmaceuticals Intl Inc, addressed the history of Nitropress and Isuprel, the reimbursement process for hospital procedures involving Nitropress and Isuprel, the analysis and reasons underlying Valeant Pharmaceuticals Intl Inc's pricing decisions, and Valeant Pharmaceuticals Intl Inc's programs designed to improve patient access, among other topics.

In addition, Valeant Pharmaceuticals Intl Inc disclosed that it recently received a subpoena from the U.S. Attorney's Office for the District of Massachusetts and a subpoena from the U.S. Attorney's Office for the Southern District of New York. Most of the materials requested by the subpoenas relate to documents with respect to our patient assistance programs, and also include requests relating to financial support provided by the company for patients, distribution of the company's products, information provided to the Centers for Medicare and Medicaid Services, and pricing decisions.

On October 19, 2015, Valeant Pharmaceuticals Intl Inc reported its third quarter 2015 financial results. The plaintiff claims that on the same day, Valeant Pharmaceuticals Intl Inc hosted an earnings call during which, for the first time, defendants revealed the previously undisclosed and direct relationship between Valeant Pharmaceuticals Intl Inc and certain specialty pharmacies.

On October 21, 2015, a report was issued entitled “Could this be the Pharmaceutical Enron?”. Among other things, the report claims that Valeant Pharmaceuticals Intl Inc utilizes a specialty pharmacy to facilitate drug sales to patients. The same report continued, stating that “Citron believes the whole thing is a fraud to create invoices to deceive the auditors and book revenue. PHANTOM ACCOUNTS.” The same day Valeant Pharmaceuticals Intl Inc issued a response to the report.

Shares of Valeant Pharmaceuticals Intl Inc (NYSE: VRX) declined to as low as $88.50 per share on October 21, 2015.