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MNKPF.US
id: 313, Created by Stan Vick Chase, Scout
Mallinckrodt plc
Settled
06 October 2015
Class period Start06 November 2017
Class period End27 October 2022
Claim deadlineShenk, et al. v. Mallinckrodt plc et al.
Mallinckrodt agreed to pay $67,75 million to settle a securities class action lawsuit accusing the Company of deceiving investors about sales in 2015-2017 years.
The original complaint alleged that the Company:
- on October 6, 2015, was misrepresenting the portion of Acthar sales attributable to Medicare and Medicaid;
- in a Form 10-K filed on November 29, 2016, was making false statements relating to a Federal Trade Commission investigation;
- from January 19, 2017, through August 8, 2017, was making a series of false and misleading statements concerning Acthar sales and prospects, including financial and Acthar-related guidance to the market.
After several years of court proceedings, Mallinckrodt agreed to settle with investors to avoid further litigation.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Lead plaintiff
State Teachers Retirement System of Ohio
Attorney
Barrack, Rodos & Bacine
Court
District of Columbia
Judge
Hon.Dabney L. Friedrich
Administrator
A.B. Data Ltd
Court hearing date
02 August 2022
+$67,750,000
Total Settlement Amount