U.S. Markets closed

Pawar Law Group Announces Filing of Securities Class Action Lawsuit Against Mallinckrodt Public Limited Company - MNK

NEW YORK, NY / ACCESSWIRE / March 10, 2017 / The Pawar Law Group announces a class action lawsuit on behalf of Mallinckrodt Public Limited Company (NYSE: MNK) investors who purchased Mallinckrodt stock between November 25, 2014 and January 18, 2017, inclusive (the "Class Period"). The suit is for recovery of investor losses.

To participate in this class action lawsuit, visit the firm's website at http://pawarlawgroup.com/cases/mallinckrodt-public-limited-company/ or email Vik Pawar, Esq. at vik@pawarlawgroup.com or call toll free at (866) 999-0873.

No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the complaint, throughout the Class Period Mallinckrodt and its Chief Executive Officer, Mark Trudeau, made a series of false and misleading statements and failed to disclose 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. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that Acthar's monopoly status as the only FDA-approved adrenocorticotropic hormone preparation was the product of unlawful anticompetitive practices and failed to disclose that its increasing reliance on Medicare and Medicaid meant that Mallinckrodt's monopolistic Acthar revenue would be threatened if the government took action to limit the price paid for this drug by taxpayers. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than March 27, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You may join the case here: http://pawarlawgroup.com/cases/mallinckrodt-public-limited-company/ or email Vik Pawar, Esq. at vik@pawarlawgroup.com

Contact:

Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (212) 571-0805
Fax: (212) 571-0938
vik@pawarlawgroup.com

SOURCE: Pawar Law Group