Processing your request

please wait...

Case Page


Case Status:    ONGOING    
On or around 12/10/2020 (Date of last review)

Filing Date: July 26, 2019

According to the Plaintiff's law firm press release, Mallinckrodt, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza. The Company markets its branded products to physicians, pharmacists, pharmacy buyers, hospital procurement departments, ambulatory surgical centers, and specialty pharmacies.

Among other products, Mallinckrodt’s portfolio includes H.P. Acthar Gel (“Acthar”), an injectable drug for various indications, such as rheumatoid arthritis, multiple sclerosis, infantile spasms, systemic lupus erythematosus, polymyositis, and others. During the Class Period, Acthar was in a Phase 2B study designed to assess its efficacy and safety as an investigational treatment for amyotrophic lateral sclerosis (“ALS”).

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Acthar posed significant safety concerns that rendered it a non-viable treatment for ALS; (ii) accordingly, Mallinckrodt overstated the viability of Acthar as an ALS treatment; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Plaintiff re-filed the Complaint on July 29, 2019. On June 25, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. On July 30, the Court issued an Order transferring this case to the District of New Jersey. Lead Plaintiff filed an amended Complaint on August 10.

On December 10, 2020, the Court issued an Order staying the case due to proceedings in the United States Bankruptcy Court for the District of Delaware.


Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United Kingdom


Ticker Symbol: MNK
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 19-CV-07030
JUDGE: Hon. Edgardo Ramos
DATE FILED: 07/26/2019
CLASS PERIOD END: 07/16/2019
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 20-CV-10100
JUDGE: Hon. Edgardo Ramos
DATE FILED: 08/10/2020
CLASS PERIOD END: 03/18/2020
  1. Carella, Byrne, Cecchi, Olstein, Brody & Agnello, P.C.
  2. Robbins Geller Rudman & Dowd LLP (Melville)
No Document Title Filing Date
—Related District Court Filings Data is not available