Why Are Mallinckrodt Shares Tumbling Today
Portfolio Pulse from Vandana Singh
Mallinckrodt Plc (NYSE:MNK) is reportedly considering options, including filing for bankruptcy again, as a $200 million opioid settlement payment is due within weeks. The company emerged from Chapter 11 last year after reaching a $1.7 billion nationwide settlement.
June 05, 2023 | 3:05 pm
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Mallinckrodt is considering bankruptcy again due to a $200 million opioid settlement payment, causing its shares to tumble 28.20%.
Mallinckrodt is facing a significant financial burden due to the $200 million opioid settlement payment. This has led to the company considering bankruptcy again, which has negatively impacted its stock price. Investors are likely to be concerned about the company's financial stability and future prospects, leading to a negative short-term impact on the stock.
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