Levi & Korsinsky announces it has filed a class action lawsuit the USDC for the District of Columbia on behalf of purchasers of Mallinckrodt plc (NYSE: MNK) who purchased shares between July 14, 2014 through January 18, 2017.
The complaint alleges that throughout the Class Period, Mallinckrodt and its acting President and Chief Executive Officer, Mark Trudeau, misrepresented the efficacy of Mallinckrodt’s business model and its ability to maintain sustainable revenue. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that Mallinckrodt engaged in unlawful anticompetitive practices to maintain H.P. Acthar Gel’s (“Acthar”) monopoly status as the only FDA-approved therapeutic preparation of adrenocorticotropic hormone and that Mallinckrodt’s increasing reliance on Medicare and Medicaid meant that the Company’s monopolistic Acthar revenue would be threatened if the government took action to limit the price paid for the drug by taxpayers.
If you suffered a loss in Mallinckrodt you have until March 27, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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