Valeant’s $1.21 Billion Shareholder Settlement Finally Approved

Valeant Pharmaceuticals’ $1.21 billion settlement to resolve class claims over alleged securities fraud is final, according to a federal New Jersey court order adopting a magistrate judge’s recommendation last summer for approval.

Judge Michael A. Shipp of the U.S. District Court for the District of New Jersey signed off on the settlement in an opinion filed Monday, overruling objections brought by just two of more than 400,000 class members.

The settlement resolves claims against all current and former defendants, with the exception of PriceWaterhouseCoopers LLP, which served as Valeant’s accounting firm.

The consolidated suits were filed after Valeant, now known ...