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Mallinckrodt plc (MNK)

NYSE:MNK

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Mallinckrodt plc To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Mallinckrodt plc (“Mallinckrodt” or the “Company”) (NYSE:MNK) of the March 27, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of Columbia on behalf of all those who purchased Mallinckrodt stock or options between November 25, 2014 and January 18, 2017 (the “Class Period”).  The case, SHENK v. MALLINCKRODT PLC et al., No. 17-cv-00145 was filed on January 23, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the material adverse facts about the long-term sustainability of Mallinckrodt’s monopolistic HP Acthar Gel (“Acthar”) revenues and the exposure of Acthar to reimbursement rates by Medicare and Medicaid.

First, on November 16, 2016, Citron Research (“Citron”) published a report accusing Chief Executive Officer (“CEO”), Mark Trudeau (“Trudeau”), and the Company of securities fraud in connection with Trudeau’s statements downplaying the Company’s reliance on Medicare and Medicaid for Acthar revenue.  These accusations were supported by Trudeau’s comments made during a Company conference call on November 29, 2016.

Then, on January 18, 2017, the Federal Trade Commission announced that Mallinckrodt had agreed to pay $100 million in connection with an investigation against the Company's anticompetitive and unlawful efforts to prevent an alternative ACTH treatment from reaching the U.S. market.

Take Action

If you invested in Mallinckrodt stock or options between November 25, 2014 and January 18, 2017 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Mallinckrodt’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Mallinckrodt plc (MNK)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/24/2017

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