Bloomberg Law
Dec. 15, 2022, 12:13 AM

Mallinckrodt Released From ALS Drug Stock Suit Due to Bankruptcy

Martina Barash
Martina Barash

A securities class action alleging Mallinckrodt PLC and its top officers failed to disclose problems with a drug for amyotrophic lateral sclerosis won’t proceed against the company now that its bankruptcy plan is approved.

But the pension fund spearheading the suit will continue to pursue claims against the 10 individual defendants, according to a filing in the US District Court for the District of New Jersey. The court approved the pension fund’s voluntary dismissal of Mallinckrodt Wednesday.

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