Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 36

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 36
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, net on the Condensed Consolidated Statements of Operations for the three months ended March 30, 2024.In addition to the class action, at various times during the period from November 2017 to February 2021 more than 20 opt out cases were filed against us, and in some cases, Mr. Papa and Ms. Brown. Most of these cases were filed in the New Jersey federal court. Mediation efforts and settlement discussions occurred from time to time. As of the filing date of our 2024 Form 10-K, 13 of the pending opt out cases were resolved by settlements without any concession of liability by any of the defendants. There are currently six opt out cases in the District of New Jersey that have not been resolved (and a proceeding related to one purported opt out case in the Third Circuit federal appeals court). Settlement discussions in the six remaining District of New Jersey cases are ongoing at various stages. None of the six cases in the district court are in active litigation at this time. To the extent settlements cannot be achieved, we intend to defend these lawsuits vigorously. If litigation should resume, we anticipate that one or more of the opt out plaintiffs will take a position that the settlement of the Roofer’s case does not have any direct effect on the opt out cases discussed below. The six opt out cases assert factual allegations and claims that are similar to some or all of the factual allegations and claims in the class actions, but involve different evidence, expert witnesses, and theories of liability: CaseDate FiledHarel Insurance Company, Ltd., et al. v. Perrigo Company plc, et al.2/13/2018TIAA-CREF Investment Management, LLC., et al. v. Perrigo Company plc, et al.4/20/2018BlackRock Global Allocation Fund, Inc., et al. v. Perrigo Co. plc, et al.4/21/2020Starboard Value and Opportunity C LP, et al. v. Perrigo Company plc, et al.2/25/2021Nationwide Mutual Funds, et al. v. Perrigo Company plc, et al.10/29/2018Aberdeen Canada Funds -- Global Equity Fund, et al. v. Perrigo Company plc, et al.2/22/2019During the three months ended March 29, 2025, the Company engaged in mediation and settlement discussions in certain of the six opt out cases listed above, and we recorded a total loss provision of approximately