Stull, Stull & Brody Announces Class Action Lawsuit on Behalf of Employee Benefit Plan Purchasers of Mallinckrodt plc Stock

NEW YORK, July 26, 2017 -- Stull, Stull & Brody (“SS&B”) announces that a class action lawsuit was commenced in the United States District Court for the Eastern District of Missouri on behalf of purchasers of stock of Mallinckrodt Public Limited Company’s (“Mallinckrodt”) (NYSE:MNK), between November 25, 2014 and January 18, 2017 (“Class Period”), in Mallinckrodt’s voluntary and contributory employee benefit plans.  If you contributed money in any of Mallinckrodt’s voluntary employee benefit plans and acquired Mallinckrodt ADSs as a result of such contributions, your rights may be affected.

The complaint alleges, among other claims, that Mallinckrodt’s Registration Statement filed with the Securities and Exchange Commission violated Section 11 of the Securities Act of 1933 by omitting material facts and otherwise containing inaccurate, misleading and untrue statements of fact pertaining to, among other things, the long-term sustainability of Mallinckrodt’s revenues for HP Acthar Gel (“Acthar”), the only FDA-approved adrenocorticotropic hormone preparation.  The action alleges that Acthar’s monopoly status was the product of unlawful anticompetitive practices and failed to disclose that its increasing reliance on Medicare and Medicaid meant that Mallinckrodt’s monopolistic Acthar revenue would be threatened if the government took action to limit the price paid for this drug by taxpayers.

If you purchased or acquired Mallinckrodt stock in any of the Company’s employee benefit plans during the Class Period and wish to serve as a lead plaintiff you may move the Court no later than September 22, 2017; however you must meet certain legal requirements.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Michael Klein, Esq. of SS&B at [email protected], telephone 212-687-7230 x147, or by fax to 212-490-2022.

SS&B has litigated class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions.  SS&B has offices in New York and Beverly Hills.  SS&B’s website (www.ssbny.com) has additional information about the firm.

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