Hit By Opioid Lawsuits Mallinckrodt Files For Second Bankruptcy In Just Three Years
Portfolio Pulse from Vandana Singh
Mallinckrodt Plc (NYSE:MNK) has filed for a second bankruptcy in three years in the U.S. The restructuring plan aims to reduce its debt by about $1.9 billion and is expected to be completed in Q4 2023. The company also plans to make a final, one-time payment of $250 million to support the Trust's mission to address the U.S. opioid crisis. MNK shares are up 3.03% at $0.5 on the last check Monday.
August 28, 2023 | 1:55 pm
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Mallinckrodt's second bankruptcy filing in three years and its restructuring plan to reduce debt by $1.9 billion could potentially impact its stock price. The company's shares are currently up 3.03%.
The bankruptcy filing and restructuring plan could potentially lead to uncertainty among investors, impacting the stock price. However, the company's shares are currently up, indicating a positive market response in the short term.
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