Class Period: Oct 25, 2014 to Jan 18, 2017
Lead Plaintiff Deadline: Mar 27, 2017
Summary of Case:
A securities class action has been filed against Mallinckrodt plc ("MNK") on behalf of all persons who purchased Mallinckrodt plc's (the "Company") publicly traded securities on a domestic exchange between November 25, 2014 to January 18, 2017. This case has been filed in the USDC - District of Columbia.
The Complaint alleges that throughout the Class Period, Mallinckrodt and its Chief Executive Officer, Mark Trudeau, issued a series of false and misleading statements and failed to disclose material adverse facts about the eventual sustainability of the Company's monopolistic HP Acthar Gel ("Acthar") profits and the exposure of Acthar to reimbursement rates by Medicare and Medicaid. More specifically, Defendants issued false and/or misleading statements and/or failed to disclose that Acthar's monopoly status as the sole FDA-approved adrenocorticotropic hormone preparation was the outcome of illicit anticompetitive measures and did not reveal that its growing reliance on Medicare and Medicaid meant that Mallinckrodt's monopolistic Acthar revenue would be threatened if the government pursued action to limit the price paid for this drug by taxpayers. When this news was released to the public, the value of Mallinckrodt PLC dropped, causing investors harm.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.