id: 313, Created by Stan Vick, Scout
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- Company agreed to pay compensation to its investors, to avoid further litigation
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D. District ColumbiaCourt
06 Oct 2015Class period Start
06 Nov 2017Class period End
27 Oct 2022Claim deadline
Shenk, 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.
State Teachers Retirement System of Ohio
Barrack, Rodos & Bacine
Hon.Dabney L. Friedrich
A.B. Data Ltd
Court hearing date
02 August 2022
+$67,750,000Total Settlement Amount