NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Mallinckrodt Public Limited Company (NYSE:MNK) resulting from allegations that Mallinckrodt may have issued materially misleading business information to the investing public.
On November 16, 2016, Citron Research published a report asserting that the CEO of Mallinckrodt, Mark C. Trudeau, lied during an investor conference call on October 5, 2015 when he stated that total Medicare and Medicaid spending on Acthar is “a little bit higher than” 25% of Acthar’s sales. Citron Research cited data released by the Centers for Medicare & Medicaid Services on the amount of Medicare and Medicaid spending on Acthar in 2015 and concluded that Medicare and Medicaid spending on Acthar is not “a little bit higher than” 25% of Acthar’s sales, but approximately 61% of Acthar’s sales. On this news, shares of Mallinckrodt fell $8.15 per share or approximately 12% to close at $59.65 per share on November 16, 2016, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Mallinckrodt investors. If you purchased shares of Mallinckrodt please visit the firm’s website at http://www.rosenlegal.com/cases-1002.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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