Information Provided By:
Fly News Breaks for June 6, 2019
MNK
Jun 6, 2019 | 07:44 EDT
Wells Fargo analyst David Maris lowered his price target for Mallinckrodt to $11 from $25 after the company said it reached an agreement in principle with the U.S. Department of Justice to resolve the previously disclosed suit regarding legacy Questcor sales and marketing practices for $15.4M. In addition, with respect to the outstanding DOJ civil complaint covering legacy Questcor charitable foundation practices, this suit is still outstanding and it "intends to vigorously defend the company in this matter," he adds. Maris spoke to the company, and Mallinckrodt believes the settlement was a favorable outcome to begin to put these legacy issues behind them. Maris reiterates a Market Perform rating on the shares.
News For MNK From the Last 2 Days
There are no results for your query MNK