Valeant Investors Win Bid to Pursue Fraud Claims Against PwC

Valeant shareholders can pursue securities fraud claims against PwC LLP for its 2014 audit of the pharmaceutical company, a federal judge ordered Wednesday.

New Jersey District Judge Michael Shipp’s order accepted the November recommendations of a special master to allow the class action case to continue. The judge’s order and accompanying memorandum opinion found that the shareholders had detailed enough allegations that the firm ignored red flags and violated professional audit standards to meet the high legal threshold to bring the fraud claims against the company’s external auditor.

“After almost 8 years of litigation, we are eager to present ...