Mallinckrodt plc (MNK)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Mallinckrodt plc (MNK) (“Mallinckrodt” or the “Company”)(NYSEAMERICAN: MNK). Investors who purchased Mallinckrodt securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Mallinckrodt and certain of its officers and/or directors have violated federal securities laws.
On March 17, 2023, The Buxton Helmsley Group, Inc., a “New York City-based investment advisor to clients with financial interests in Mallinckrodt Plc”, issued two open letters. In one open letter, addressed to U.S. Senators Elizabeth Warren and Sheldon Whitehouse, the Buxton Helmsley Group claimed to “deliver 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 open letter, addressed to Mallinckrodt’s directors and officers, the Buxton Helmsley Group demanded, among other things, “the restatement of the historical financial statements of the Company, and . . . 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.” On this news, Mallinckrodt’s stock price fell $0.66 per share, or 7.82%, over the following two trading sessions, to close at $7.78 per share on March 20, 2023.
If you are aware of any facts relating to this investigation or purchased Mallinckrodt shares, you can assist this investigation, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.