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Monday, September 30, 2019

Mallinckrodt +13% after settling Ohio opioid cases

Mallinckrodt (NYSE:MNK) races higher in early trading after settling a legal case with two counties in Ohio involving opioid usage.
The company will pay $24M in cash, provide $6M in generic products and provide a $500K payment in two years in recognition of the counties’ time and expenses.
The settlement sees all named Mallinckrodt entities dismissed with prejudice from the lawsuit and stipulates the value of the settlement won’t be extrapolated to any other opioid-related claims.

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