Defendant Name: Mallinckrodt plc

Defendant Type: Public Company
SIC Code: 2834
CUSIP: G5890A10

Initial Case Details

Legal Case Name In the Matter of Mallinckrodt
First Document Date 30-Nov-2023
Initial Filing Format Administrative Action
File Number 3-21806
Allegation Type Issuer Reporting and Disclosure
AAER 4476

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-13
• Rule 13a-15
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 30-Nov-2023

Related Documents:

33-11256 30-Nov-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On November 30, 2023, the SEC instituted settled cease-and-desist proceedings against Mallinckrodt plc, stating: "This matter concerns failures by Mallinckrodt, a publicly traded pharmaceutical company during the relevant time period, to properly disclose in its periodic filings with the Commission a material loss contingency stemming from a claim by the Centers for Medicare and Medicaid Services (“CMS”) that Mallinckrodt had been overcharging Medicaid for the company’s flagship drug, Acthar Gel (“Acthar”)."
33-11256-s 30-Nov-2023 Administrative Summary
SEC Charges Mallinckrodt for Disclosure and Accounting Failures
On November 30, 2023, the SEC "announced charges against pharmaceutical company Mallinckrodt plc for failing to disclose a potential liability for overcharging Medicaid for its flagship drug, Acthar Gel, that ultimately grew to more than $500 million. The SEC considered the company's financial condition and undertakings to retain a compliance consultant in determining not impose a $40 million civilpenalty."