Recent Security Class Actions

Mallinckrodt plc (NYSE: MNK)

Company Name:Mallinckrodt plc
Stock Symbol:NYSE: MNK
Class Period Start:06/17/2022
Class Period End (inclusive):08/25/2023
Filing Deadline:09/05/2023

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Mallinckrodt had overstated its financial strength, including purported enhancements to its liquidity and balance sheet, following its emergence from Chapter 11 bankruptcy protection; (ii) accordingly, the Company overstated its ability to timely make one or more payments to the Trust for the Opioid Settlement; (iii) all the foregoing negatively impacted Mallinckrodt’s ability and/or willingness to timely meet interest payment obligations on certain bonds; (iv) as a result of all the foregoing, the Company was at an increased risk of having to again file for Chapter 11 bankruptcy protection; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.