Mallinckrodt -23% as it reportedly taps restructuring firms

Mallinckrodt (NYSE:MNK) has sunk 23.3% after hours after Bloomberg reports the company’s hired firms to explore restructuring.

The company has hired Latham & Watkins as a law firm and AlixPartners as consultants to advise on the potential costs from thousands of opioid lawsuits.

It may consider bankruptcy if the liabilities aren’t manageable, according to the report.

Also lower in the wake of the report: Teva (NYSE:TEVA) -1.4% postmarket; Endo International (NASDAQ:ENDP) -11.5%.

https://seekingalpha.com/news/3497166-mallinckrodt-minus-23-percent-reportedly-taps-restructuring-firms