On November 16, 2016, Citron Research published an article called "Mallinckrodt CEO FRAUD exposed by the new Medicare Drug Dashboard." The article accuses Mallinckrodt's CEO, Mark C. Trudeau, of lying to stockholders on a conference call on October 5, 2015. Turdeau said that the Company's total Medicare and Medicaid spending on Acthar is "a little bit higher than" 25% of Acthar's sales. Citron Research then revealed the Centers for Medicare & Medicaid Services's data that showed Medicare and Medicaid spending on Acthar in 2015 that was roughly 61% of Acthar's sales. Following this news, Mallinckrodt stock dropped $8.15 per share or about 12% to close at $59.65 per share on November 16, 2016.
If you are aware of any facts relating to this investigation, or purchased Mallinckrodt shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/mnk. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
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