Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 117

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Part II, Item 1
Chunk 117
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 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 $5.3 million during the three months ended March 29, 2025 as a result of reasonable estimates of probable loss regarding the remaining opt out cases listed above, which is included in the Other operating (income) expense, net on the Condensed Consolidated Statement of Operations. The remaining aggregate loss accrual for litigation contingencies is described below under "Contingencies Accruals." Also, during the year ended December 31, 2024, the New Jersey federal court held that the plaintiffs in an additional purported opt out case (Sculptor Master Fund et al. v. Perrigo Company plc, et al. filed 2/16/2019) failed to opt out and therefore can only recover through the class action. The plaintiffs filed an appeal in the U.S. Court of Appeals for the Third Circuit. As of March 29, 2025, the parties have completed the briefing in this appellate case.In addition, there was one opt out case brought under different legal theories in a Massachusetts State Court against the Company, Mr. Papa, and Ms. Brown with factual allegations that generally were similar to some of the