An investigation on behalf of investors of Mallinckrodt plc (NYSE: MNK) shares over potential securities laws violations by Mallinckrodt plc and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Mallinckrodt plc (NYSE: MNK) concerning whether a series of statements by Mallinckrodt plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

UK based Mallinckrodt plc, 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. On May 1, 2019, the Wall Street Journal published an article claiming that Questcor, acquired by Mallinckrodt in 2014, 'defrauded government health-care plans by illegally marketing H.P. Acthar Gel.' The Company purportedly resorted to bribing doctors and their staff members. To market this expensive drug, the Company allegedly offered everything from Starbucks gift cards to free Las Vegas trips, lavish dinners, sponsored happy hours and karaoke excursions. Shares of Mallinckrodt plc (NYSE: MNK) declined to $13.45 per share on May 1, 2019.