Perrigo(US:PRGO) Globenewswire·2026-01-12 20:27Core Viewpoint - A class action lawsuit has been filed against Perrigo Company plc for failing to disclose significant issues in its infant formula business, leading to investor losses during the class period from February 27, 2023, to November 4, 2025 [2][7]. Allegation Details - The lawsuit alleges that Perrigo did not disclose the following: 1. The infant formula business acquired from Nestlé suffered from significant underinvestment in maintenance and operational improvements [7]. 2. Perrigo needed to make substantial capital and operational expenditures beyond previously stated cost estimates to remediate the infant formula business [7]. 3. There were significant manufacturing deficiencies in the facility for the infant formula business [7]. 4. As a result, the Company's financial results, including earnings and cash flow, were overstated [7]. 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 issues in the infant formula industry [7]. - The announcement included a reassessment of a previously announced investment of $240 million in the infant formula business, which was deemed "less strategic" [7]. - Following this news, Perrigo's stock price fell by $5.09, or 25.2%, closing at $15.10 per share on the same day [7].