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Mallinckrodt investors are stepping up negotiations over the opioid bankruptcy

 Last Update: 2021-03-01
 Source: Internet
 Author: User

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seems like a new test for Mallinckrodt's investors: think of last month, when Humana took the company to court for $700m in fraudulent bills. But now, according to Mallinckrodt, when it comes to bankruptcy, if federal opioid penalties get out of hand, that could be the last straw.
Next month, mallinckrodt hired two companies to complete bankruptcy options as the federal opioid law lawsuit was about to go to trial, Bloomberg reported, and shares of British pharmaceutical companies closed at $1.44 a share late Wednesday.
On Wednesday, sources told Bloomberg that Mallinckrodt hired law firm Latham and Watkins and transformation firm Alix Partners as they considered a possible multibly settlement.
Mallinckrodt declined to comment.The 44 per cent one-day drop was significant, but that was only a fraction of Mallinckrodt's losses from scandals and litigation in recent months. So far this year, the company's share price has plunged from a high of $33.71, down more than 95 per cent. （cyy123.com）

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