By Lauren Berg (February 22, 2022, 11:38 PM EST) – A Delaware bankruptcy judge on Tuesday approved a $65.75 million settlement resolving class claims that Mallinckrodt PLC hid from investors its reliance on federal reimbursements for Acthar gel products.

U.S. Bankruptcy Judge John T. Dorsey approved the settlement that would resolve a consolidated investor class action lawsuit brought by the State Teachers Retirement System of Ohio, alleging that Mallinckrodt, its CEO Mark C. Trudeau and former Vice President Matthew K. Harbaugh made false statements. regarding the amount of Acthar’s infantile spasm drug sales that are reimbursed by Medicare and Medicaid, according to a text prescription.

As part of the proposed settlement – which…

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