An investigation for investors in Mallinckrodt PLC (NYSE:MNK) shares over potential securities laws violations by Mallinckrodt was announced and NYSE:MNK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/28/2016 -- An investigation on behalf of investors of Mallinckrodt PLC (NYSE:MNK) shares over potential securities laws violations by Mallinckrodt in connection certain financial statements was announced.
Investors who purchased shares of Mallinckrodt PLC (NYSE:MNK), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Mallinckrodt PLC (NYSE:MNK) concerning whether a series of statements by Mallinckrodt PLC regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On November 9, 2015, Citron Research described Mallinckrodt's abuse of the pharmaceutical reimbursement system, and stated that Mallinckrodt has "significantly more downside" than rival Valeant Pharmaceuticals International, Inc. and is "a far worse offender" of the reimbursement system.
On November 16, 2016, Citron Research issued a report titled "Mallinckrodt CEO FRAUD exposed by the new Medicare Drug Dashboard". In this article, Citron stated that Mallinckrodt CEO has committed Fraud by lying to the shareholders about the Company's dependence on the Medicare system. Per Citron, Mallinckrodt drug Acthar, which is medically unproven, is now the most expensive drug reimbursed by Medicare. Citron has placed a price target of $20 on Mallinckrodt stock.
On November 23, 2016, NYSE:MNK shares closed at $56.87 per share.
Those who purchased shares of Mallinckrodt PLC have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego