Company: PRGO
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001585364-25-000056
Chunk: 239

Company: PERRIGO Co plc
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 15
Chunk 239
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 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 $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