According to the lawsuit, defendants made materially false and/or misleading statements and or failed to disclose that:
- the infant formula business acquired from Nestlé suffered from significant underinvestment in maintenance;
- Perrigo needed to make substantial capital and operational expenditures above Perrigo’s outwardly stated cost estimates to remediate the infant formula business;
- there were significant manufacturing deficiencies in the facility for Perrigo’s infant formula business;
- as a result of the foregoing, Perrigo’s financial results, including earnings and cash flow, were overstated; and
- as a result of the foregoing, defendants’ positive statements about Perrigo’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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