Perrigo(US:PRGO) Globenewswire·2025-11-20 18:51Core Viewpoint - A class action lawsuit has been filed against Perrigo Company plc, alleging that the company misled investors regarding the value of its infant formula business, leading to significant financial losses for shareholders [1][2]. Allegations - The lawsuit claims that Perrigo failed to disclose critical issues with its infant formula business, including underinvestment in maintenance and operational improvements, the need for substantial capital expenditures beyond stated estimates, and significant manufacturing deficiencies [2]. - As a result of these undisclosed issues, Perrigo's financial results, including earnings and cash flow, were allegedly overstated [2]. Financial Impact - On November 5, 2025, Perrigo announced disappointing third-quarter financial results and slashed its fiscal year 2025 outlook, primarily due to challenges in the infant formula industry [3]. - The company also initiated a strategic review of its infant formula business, reassessing a previously announced investment of $240 million, which was deemed "less strategic" [3]. - Following this announcement, Perrigo's stock price dropped by $5.09, or 25.2%, closing at $15.10 per share on the same day [3].