Company: PRGO
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001585364-25-000156
Chunk: 136

Company: PERRIGO Co plc
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 7
Chunk 136
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' counsels sent notices during 2020 to the alleged classes. The parties took discovery from 2018 through 2020. After discovery ended, defendants filed motions for summary judgment and to exclude plaintiffs' experts, which were fully briefed. On August 17, 2023, the Court granted summary judgment to Ms. Brown on all claims and dismissed her from the case; the Court granted summary judgment in part to Mr. Papa terminating the claim against him that he made false statements with respect to alleged collusive pricing at the Generic Rx business. The Court did not grant summary judgment on statements made about the integration of Omega during 2015. Thereafter, parties engaged in court-ordered settlement conferences.On April 5, 2024, the class plaintiffs filed papers seeking Court approval of a settlement between the alleged classes and the defendants for $97.0 million. Perrigo and the remaining individual defendant agreed to the proposed settlement without any concession of liability or wrongdoing. We recorded an additional loss provision of $34.0 million during the first quarter of 2024 as a result of the pending settlement. In May 2024, the Company funded the $97.0 million to an escrow account controlled by class counsel under Court supervision until final approval and relieved the corresponding liability from Other accrued liabilities on the Condensed Consolidated Balance Sheets as of June 29, 2024. On September 5, 2024, the Court granted final approval of the class action settlement and terminated the case with respect to Perrigo, its co-defendant, and other individuals who previously had been named as defendants. The expense was presented within Other operating (income) expense, net on the Condensed Consolidated Statements of Operations for the nine months ended September 28, 2024.In addition to the class action, 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. During calendar year 2025 to the date of filing of this Form 10-Q, six opt out cases in the District of New Jersey settled without returning to active litigation. Settlements in three