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. (“BHG”) on March 17, 2023. A letter addressed to Senators Elizabeth Warren and Sheldon Whitehouse claims that BHG is “delivering the 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, BHG notes that, “This Company has already, with the same Chief Financial Officer running the books pre- and post-reorganization, laid out the Company’s standard for determining the fair value of assets securing capital structure interests, and is apparently continuing such misconduct through failure (post-reorganization) to record billions of dollars in asset value depreciation/impairment expenses, which are evidenced by simply applying their prior-professed internal standard for determining the fair value of assets securing the Company’s capital structure, and – therefore – asset value impairment.”
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
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.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
