Mallinckrodt Says Board Has Not Determined Ultimate Path For Co, Including Whether Or Not Co Will Make Filing Under U.S. Bankruptcy Code Or Insolvency Laws
Portfolio Pulse from Happy Mohamed
Mallinckrodt has announced that its board has not yet determined the ultimate path for the company, including whether or not it will file under U.S. Bankruptcy Code or insolvency laws, according to an SEC filing.
July 14, 2023 | 5:53 pm
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Mallinckrodt's future is uncertain as the board has not yet decided whether to file for bankruptcy or insolvency. This uncertainty could potentially impact the company's stock price.
The announcement of potential bankruptcy or insolvency filing creates uncertainty around the company's future. This uncertainty often leads to volatility in the stock price as investors react to the potential risk. Given that the board has not yet made a decision, the uncertainty is likely to persist, potentially leading to a negative impact on the stock price in the short term.
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