Mallinckrodt Plc (MNK) News

I'll keep my eyes on it......you too please.

Doesn’t look like they issued new stock, news says their lenders now own the company.

MNKT: DEC 1st, 2023 SEC Cease and Desist Order:

https://www.sec.gov/files/litigation/admin/2023/33-11256.pdf

https://www.sec.gov/enforce/33-11256-s

Mallinckrodt Plc emerged from Ch. 11 bankruptcy with new equity. *****I spent 25 minutes looking for the ticker but could not find any references, so, I'll simply submit a ticker change from MNKTQ back to MNKT. If anyone finds any other reference to a ticker change please post it on this board.

https://www.sec.gov/Archives/edgar/data/1567892/000110465923116529/tm2330452d1_ex99-2.htm

MNKTQ: BK PLAN effective. All shares cancelled. ***PPS rose 71% from .07 to .12 on 39,227 volume. Someone got a bit lucky, knowing the stock would be cancelled.

https://otce.finra.org/otce/dailyList?viewType=Deletions

How much is the tender offer?

Finally looking good $MNKTQ

Glad you got out

GLTU

i left a long time ago but didnt see this just took my profits.. didnt think the bk thing was coming here ..until your post i forgot i was even heree glta

Opioid scapegoat here

SERIOUSLY??????

Nope

Not looking likely......

150 million dollars out of the 250 million was granted approval for access. With the short the way it is it could be absolutely insane or it will get ignored

Now will squeeze MAYBE .... could be massive squeeze from these levels.

MNK changed to MNKTQ, bankruptcy. Delisted from the AMEX to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

MNK new 52 week low

and maybe another Rally the biggest one yet ?

this is not just a monstrous squeeze in yhr msking. there is value here that that is worth a long term hol

3500 at 1.12 i flipped the coin ..it came up heads

1.13

$MNK short of the century bankruptcy pumper.

MNK Mallinckrodt's Potential Bankruptcy: Hedge Funds' New Path to Dodge Opioid Settlement Debt?
BENZINGA 12:28 PM ET Jul-26-2023

https://stockcharts.com/h-sc/ui?s=MNK

Last year, Mallinckrodt Plc (NYSE:MNK) pledged to pay $1.7 billion to settle numerous lawsuits by governments and individuals impacted by the opioid crisis, who argued the company had a hand in sparking the public health disaster.

The settlement, expected to be disbursed through 2030, was intended to finance overdose reversal drugs and cover the treatment expenses of opioid users.

Nevertheless, hedge funds that backed Mallinckrodt support a plan for the company to pull out of the agreement with roughly $1.3 billion still outstanding, Wall Street Journal reported.

Several hedge funds, including Silver Point Capital, are negotiating with Mallinckrodt's board to assume control of the business via a bankruptcy declaration. Other funds, such as Bracebridge Capital and Alta Fundamental Advisers, are discussing its potential Chapter 11 filing.

The funds argue that Mallinckrodt was overgenerous in its settlement commitment and that the company's funds should primarily belong to top-tier lenders, such as themselves, rather than to victims or state governments.

They believe Mallinckrodt's continued contributions to the opioid trust could harm the company's financial stability and breach its legal obligations to investors.

The report also noted that the hedge funds suggest that Mallinckrodt should restructure through bankruptcy due to declining business.

In response, Mallinckrodt confirmed its ongoing discussions with "its financial stakeholders" to determine the best way forward considering their debt and opioid settlement commitments.

It is a controversial move, as Mallinckrodt was the first opioid manufacturer to globally settle with state attorneys general, municipal governments, and countless individuals who accused the company of downplaying the addictive risks of its prescription opioids.

Upon settling the lawsuits, Mallinckrodt and its executives were exempted from future liabilities for opioid sales, and the company was allowed to continue producing the drugs.

Price Action: MNK shares are up 61.40% at $0.71 on the last check Wednesday

1.87

Like I said close the gap at 2.40

exit 2.21 resistance

MNK 2.35 NUTS

HERE COMES 2,21

TRIMMING ABOVE 1.76

MNK..WATCH THAT 2.21 AS TOP

MNK BREAKING RESISTANCE IN PRE MARKET

MNK: Benzinga breaks-down the most BIZARRE story in the history of Wall Street??? If not, a good candidate for such. OLD NEWS??? Well, read it again:
https://www.benzinga.com/news/23/07/33393811/federal-reserve-to-follow-through-with-0-25-rate-hike-wednesday-likely-another-next-meeting-says-for
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So many many stocks with repeat rallies - missed this one again

Check your broker. its easy to borrow with Etrade.

MNK 1.77 NO SHARES AVAILABLE TO SHORT

I TRIED

Hmmm gap to fill at 2.40

MNK: If you want your Company's stock to SOAR, well, simply get SUED or INVESTIGATED for FRAUD or otherwise misleading your investors!!! Works every time!!!

Second times a charm

Rocket’s

Doing similar moves after hours

Hmmm 1.36

Break 1.33

The run

Bankruptsy or another Rally ?

30k shares ask slap,$125k,after hours institutional buying coming ?

Buyout news and open tomorrow at $30.00 would be awesome!!! We have seen it many times before !!!

Yes it sure does

The slightest breeze,drives up fast,lovin this

Next leg about to take off imo

Sales 1.85B,book $103,cash $202 p/s,volatility 113%