The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Mallinckrodt plc (“Mallinckrodt” or “the Company”) (NYSE American: MNK) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Mallinckrodt is the subject of two open letters released by The Buxton Helmsley Group, Inc. on March 17, 2023. A letter addressed to Senators Elizabeth Warren and Sheldon Whitehouse claims that The Buxton Helmsley Group is “delivering the audited results of an extensive investigation into financial misconduct at the Company involving an evidenced scheme of concealing asset value depreciation/impairment expenses, in violation of GAAP ASC 350, 360 and Regulation S-X, taking place both before and after the Company’s Chapter 11 Reorganization.” In the second letter, addressed to the Company’s management, The Buxton Helmsley Group is “demanding the restatement of the historical financial statements of the Company, and demanding write-downs of post-reorganization asset values based on the Company’s prior-professed standards of determining the fair value of asset’s securing the Company’s capital structure.”
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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The Schall Law Firm
Brian Schall, Esq.