March 12, 2018 / 11:57 PM / in 9 months

Judge rejects Mallinckrodt lead plaintiff challenge

A federal judge has approved an Ohio state pension system to serve as the lead plaintiff in a shareholder class action lawsuit against Mallinckrodt PLC, rejecting arguments that it should be disqualified due to political contributions by two law firms representing it.

U.S. District Judge Dabney Friedrich in Washington, D.C. on Friday appointed the Ohio State Teachers Retirement System as lead plaintiff in the case against the drugmaker, noting its $45 million in losses were the largest among those seeking to represent the class.

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