Mallinckrodt shares are trading lower. The company on Tuesday announced restructuring support agreement discussions, which could include initiating Chapter 11 proceedings.
Portfolio Pulse from Benzinga Newsdesk
Mallinckrodt shares are trading lower following the company's announcement of restructuring support agreement discussions, which could potentially lead to Chapter 11 bankruptcy proceedings.
August 16, 2023 | 5:14 pm
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Mallinckrodt's stock is trading lower due to the company's announcement of potential Chapter 11 bankruptcy proceedings.
The announcement of potential Chapter 11 bankruptcy proceedings has led to a decrease in Mallinckrodt's stock price. This is due to the uncertainty and financial instability associated with bankruptcy, which often leads to a decrease in investor confidence and a subsequent drop in stock price.
CONFIDENCE 100
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