Mallinckrodt plc

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Portnoy Law Firm
Lesley F. Portnoy, Esq.,
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067

The complaint claims that during the Class Period, the Defendants made false and deceptive statements about the Company’s business, operations, and future prospects. Specifically, the complaint alleges that the Defendants either made false statements or failed to disclose important information, including the following: (1) Mallinckrodt misrepresented its financial strength, including improvements to its liquidity and balance sheet, after emerging from Chapter 11 bankruptcy protection; (2) Consequently, the Company exaggerated its ability to make timely payments to the Trust for the Opioid Settlement; (3) These actions had a negative impact on Mallinckrodt’s ability and willingness to meet interest payment obligations on specific bonds; (4) As a result of these factors, the Company faced an increased risk of having to file for Chapter 11 bankruptcy protection again; and (5) Therefore, the Company’s public statements were materially false and deceptive throughout the relevant period.