PRGO INVESTOR DEADLINE: Perrigo Company plc Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Core Viewpoint - The Perrigo Company plc is facing a class action lawsuit due to alleged violations of the Securities Exchange Act of 1934, with claims that the company misled investors regarding its financial health and the state of its acquired infant formula business [1][3]. Group 1: Class Action Details - The class action lawsuit is titled French v. Perrigo Company plc and covers securities purchased between February 27, 2023, and November 4, 2025 [1]. - Investors have until January 16, 2026, to seek appointment as lead plaintiff in the lawsuit [1]. - The lawsuit alleges that Perrigo and its executives made false statements and failed to disclose critical issues regarding the infant formula business acquired from Nestlé [3]. Group 2: Allegations Against Perrigo - The complaint states that the acquired infant formula business suffered from significant underinvestment, requiring substantial capital expenditures beyond initial estimates [3]. - Manufacturing deficiencies were reported in the facility, leading to overstated financial results, including earnings and cash flow [3]. - On February 27, 2024, Perrigo disclosed additional costs of $35 million to $45 million for remediation, resulting in a 50% decline in earnings per share compared to the previous year [4]. Group 3: Financial Impact - On May 7, 2024, Perrigo reported net sales of $91 million, a decrease of 34.5%, attributed to lower shipments as the company addressed remediation plans [5]. - The gross margin fell to 36.5%, a decline of 90 basis points, with a significant impact from the infant formula business [5]. - On August 6, 2025, Perrigo's adjusted gross profit decreased by $30 million, or 6.9%, with a reported gross margin of 34.4%, down 260 basis points [6]. Group 4: Strategic Review and Outlook - On November 5, 2025, Perrigo announced a strategic review of its infant formula business and reassessed its previously announced investment of $240 million [7]. - The company slashed its fiscal year 2025 outlook, projecting net sales growth of -2.5% to -3%, down from an expected 0% to 3% [7]. - Expected adjusted diluted earnings per share were revised to a range of $2.70 to $2.80, significantly lower than the previous range of $2.90 to $3.10 [7].