Valeant Settles Biovail Frivolous Suit Claims For $10M

Law360, New York (November 4, 2010, 3:07 PM EDT) -- Valeant Pharmaceuticals International Inc., the new company created by the merger between Valeant and Biovail Corp., said Thursday that it has agreed to pay at least $10 million to settle two lawsuits that accused Biovail of pursuing a campaign of frivolous and malicious litigation against financial firms.

SAC Capital Advisors LLC and Gradient Analytics Inc. sued Biovail in the U.S. District Court for the District of Connecticut and the U.S. District Court for the District of Arizona, respectively. Valeant is paying $10 million to SAC. It...
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