Valeant’s $1.2 Billion Settlement Recommended for Final Approval

The $1.2 billion proposed securities settlement to resolve allegations that Valeant Pharmaceuticals, now known as Bausch Health Companies Inc., misled shareholders about price gouging, kickbacks, and other deceptive business strategies, has received a special master’s recommendation for final approval.

Retired District Judge Dennis M. Cavanaugh’s report, issued Monday, recommended approval of the proposed settlement without modification, including a fee award of 13%, or roughly $157 million of the fund, to the class’ lead counsel, Robbins Geller Rudman & Dowd LLP. Cavanaugh also recommended approval of $1.67 million for costs.

The settlement resolves claims against all current and former defendants, with ...