NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) --

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION AND FINAL APPROVAL HEARING

To: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED SECURITIES OF MALLINCKRODT PLC (“MALLINCKRODT”) BETWEEN JUNE 17, 2022, AND AUGUST 25, 2023, BOTH DATES INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey that a hearing will be held on October 9, 2025, at 12:30 p.m. EDT before the Honorable Zahid N. Quraishi, United States District Judge of the District of New Jersey, Clarkson S. Fisher Building & U.S. Courthouse, Courtroom 4W, 402 East State Street Room 2020, Trenton, N.J. 08608, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $5,500,000.00 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees, reimbursement of expenses, and Compensatory Awards to Lead Plaintiffs should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated May 23, 2025 (“Stipulation”).

If you purchased or otherwise acquired Mallinckrodt between June 17, 2022, and August 25, 2023, both dates inclusive (“Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your ownership interest in Mallinckrodt common stock. If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release Form (“Proof of Claim”), you may obtain copies by contacting the Claims Administrator at: Mallinckrodt Securities Litigation, c/o Class Member Correspondence: Mallinckrodt Securities Litigation, c/o Claims Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103, or email: info@MallinckrodtContinentalSecuritiesSettlement.com. You can also download copies of the Long Notice and submit your Proof of Claim online at www.MallinckrodtContinentalSecuritiesSettlement.com. If you are a member of the Settlement Class, in order to share in the distribution of the Net Settlement Fund, you must submit a properly completed Proof of Claim electronically or postmarked no later than 11:59 ET on October 16, 2025, or electronically no later than 11:59 p.m. EST on October 16, 2025 to the Claims Administrator, establishing that you are entitled to recovery.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received or postmarked no later than September 18, 2025, in the manner and form explained in the Notice. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action whether or not you make a claim.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and awards to Lead Plaintiffs must be in the manner and form explained in the detailed Long Notice and filed with the Court on or before September 18, 2025. Please also provide copies of objections to Lead Counsel and Counsel for Defendants listed below. If you have any questions about the Settlement, you may call or write to Lead Counsel listed below.

DO NOT TELEPHONE THE DEFENDANTS, THE COURT, OR THE COURT CLERK’S OFFICE TO INQUIRE ABOUT THIS SETTLEMENT OR THE CLAIMS PROCESS.

SOURCE: Pomerantz LLP