Perrigo(US:PRGO) Globenewswire·2026-01-06 20:21Core Viewpoint - A class action lawsuit has been filed against Perrigo Company plc for failing to disclose significant issues related to its infant formula business, leading to investor losses during the specified class period [2][8]. Allegation Details - The lawsuit alleges that Perrigo did not disclose the following critical issues: 1. The infant formula business acquired from Nestlé suffered from significant underinvestment in maintenance and operational improvements [8]. 2. Perrigo needed to make substantial capital and operational expenditures beyond previously stated cost estimates to remediate the infant formula business [8]. 3. There were significant manufacturing deficiencies in the facility for the infant formula business [8]. 4. As a result of these issues, the Company's financial results, including earnings and cash flow, were overstated [8]. Financial Impact - On November 5, 2025, Perrigo announced disappointing financial results for Q3 2025, leading to a significant reduction in its fiscal year 2025 outlook due to "infant formula industry dynamics" [8]. - The same day, Perrigo initiated a strategic review of its infant formula business, reassessing a previously announced investment of $240 million, indicating the business had become "less strategic" [8]. - Following this announcement, Perrigo's stock price fell by $5.09, or 25.2%, closing at $15.10 per share on November 5, 2025 [8].