# Buggy code
def __new__(
    cls, data=None, freq=None, start=None, end=None, periods=None, copy=False, name=None
):
    if isinstance(freq, Period):
        freq = freq.freq
    else:
        freq = _freq_mod.get_standard_freq(freq)

    if data is None:
        subarr, freq = _get_ordinal_range(start, end, periods, freq)
        subarr = subarr.view(cls)
        subarr.name = name
        subarr.freq = freq

        return subarr

    if not isinstance(data, np.ndarray):
        if np.isscalar(data):
            raise ValueError(
                "PeriodIndex() must be called with a "
                "collection of some kind, %s was passed" % repr(data)
            )

        if isinstance(data, Period):
            data = [data]

        # other iterable of some kind
        if not isinstance(data, (list, tuple)):
            data = list(data)

        try:
            data = np.array(data, dtype="i8")
        except:
            data = np.array(data, dtype="O")

        if freq is None:
            raise ValueError("freq cannot be none")

        data = _period_unbox_array(data, check=freq)
    else:
        if isinstance(data, PeriodIndex):
            if freq is None or freq == data.freq:
                freq = data.freq
                data = data.values
            else:
                base1, mult1 = _gfc(data.freq)
                base2, mult2 = _gfc(freq)
                data = lib.period_asfreq_arr(
                    data.values, base1, mult1, base2, mult2, b"E"
                )
        else:
            if freq is None:
                raise ValueError("freq cannot be none")

            if data.dtype == np.datetime64:
                data = dt64arr_to_periodarr(data, freq)
            elif data.dtype == np.int64:
                pass
            else:
                data = data.astype("i8")

    data = np.array(data, dtype=np.int64, copy=False)

    if (data <= 0).any():
        raise ValueError("Found illegal (<= 0) values in data")

    subarr = data.view(cls)
    subarr.name = name
    subarr.freq = freq

    return subarr


# Traceback (ValueError)
In [10]: PeriodIndex(val, periods=20)
---------------------------------------------------------------------------
ValueError                                Traceback (most recent call last)
/Users/wesm/code/pandas/<ipython-input-10-e39b42220b85> in <module>()
----> 1 PeriodIndex(val, periods=20)

/Users/wesm/code/pandas/pandas/tseries/period.pyc in __new__(cls, data, freq, start, end, periods, copy, name)
568
569             if freq is None:
--> 570                 raise ValueError('freq cannot be none')
571
572             data = _period_unbox_array(data, check=freq)

ValueError: freq cannot be none

In [11]: val
Out[11]: Period('02-Apr-2012', 'B')

# Fixed code
def __new__(
    cls, data=None, freq=None, start=None, end=None, periods=None, copy=False, name=None
):
    if isinstance(freq, Period):
        freq = freq.freq
    else:
        freq = _freq_mod.get_standard_freq(freq)

    if data is None:
        subarr, freq = _get_ordinal_range(start, end, periods, freq)
        subarr = subarr.view(cls)
        subarr.name = name
        subarr.freq = freq

        return subarr

    if not isinstance(data, np.ndarray):
        if np.isscalar(data):
            raise ValueError(
                "PeriodIndex() must be called with a "
                "collection of some kind, %s was passed" % repr(data)
            )

        elif isinstance(data, Period):
            raise ValueError("Data must be array of dates, strings, or Period objects")

        # other iterable of some kind
        if not isinstance(data, (list, tuple)):
            data = list(data)

        try:
            data = np.array(data, dtype="i8")
        except:
            data = np.array(data, dtype="O")

        if freq is None:
            raise ValueError("freq cannot be none")

        data = _period_unbox_array(data, check=freq)
    else:
        if isinstance(data, PeriodIndex):
            if freq is None or freq == data.freq:
                freq = data.freq
                data = data.values
            else:
                base1, mult1 = _gfc(data.freq)
                base2, mult2 = _gfc(freq)
                data = lib.period_asfreq_arr(
                    data.values, base1, mult1, base2, mult2, b"E"
                )
        else:
            if freq is None:
                raise ValueError("freq cannot be none")

            if data.dtype == np.datetime64:
                data = dt64arr_to_periodarr(data, freq)
            elif data.dtype == np.int64:
                pass
            else:
                data = data.astype("i8")

    data = np.array(data, dtype=np.int64, copy=False)

    if (data <= 0).any():
        raise ValueError("Found illegal (<= 0) values in data")

    subarr = data.view(cls)
    subarr.name = name
    subarr.freq = freq

    return subarr