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BOSTON, May 21, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, is investigating whether Mallinckrodt PLC (NYSE: MNK) and certain of its officers and directors violated federal securities laws.
On May 1, 2019, the Wall Street Journal published an article titled, “Government to File Complaint After Mallinckrodt Unit Is Accused of Bribery to Drive Drug Sales.” The article asserts that Questcor, which Mallinckrodt acquired in 2014, “defrauded government health-care plans by illegally marketing H.P. Acthar Gel.” The article further states that the company “stands accused of paying doctors kickbacks through bribes, consulting agreements and speaking fees if they prescribed Acthar.”
Following this news, Mallinckrodt’s share price dropped more than 16%.
Today, May 21, 2019, Mallinckrodt’s share price dropped more than 25% after the company sued the U.S. Department of Health and Human Services over its decision to require the company to change the base rate average manufacturer price used to calculate Medicaid rebates for Acthar Gel. Mallinckrodt disclosed that failure to get the rate changed could reduce Acthar sales by 10%.
We are investigating the possibility of filing a lawsuit against Mallinckrodt. If you have purchased or otherwise acquired Mallinckrodt securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (888) 868-2385, by email at email@example.com, or by visiting http://shareholder.law/mnk.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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