NEW ORLEANS, Feb. 10, 2017 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., reminds investors that they have until March 27, 2017 to file lead plaintiff applications in a securities class action lawsuit against Mallinckrodt Public Limited Company (NYSE: MNK), if they purchased the Company's securities between November 25, 2014 and January 18, 2017, inclusive (the "Class Period"). The action is pending in United States District Court for the District of Columbia.
What You May Do
If you purchased securities of Mallinckrodt and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 27, 2017.
About the Lawsuit
The complaint alleges that, throughout the Class Period, Mallinckrodt and its CEO, Mark Trudeau, made a series of false and misleading statements and failed to disclose material adverse facts about 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.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC