Buxton Helmsley Publicly Responds to Departure of Mallinckrodt Plc. CCO, After Open Letter to U.S. SEC Detailing Accounting Fraud

Rhea-AI Summary

The Buxton Helmsley Group, Inc. has issued an open letter regarding the resignation of Mallinckrodt's Chief Communications Officer, Brandi Robinson. This follows the recent departure of Senior Vice President of Finance, Kathy Schaefer, who resigned on November 3, 2021, after an October 26 letter disclosed multiple instances of alleged fraud within the company, including accounting and insider trading violations. BHG's correspondence aims to address these significant governance concerns impacting shareholders of Mallinckrodt (MNKKQ).

Positive

• None.

Negative

• Allegations of fraud at Mallinckrodt, including accounting and insider trading violations.
• Resignation of key executives raises concerns about company governance.

NEW YORK--(BUSINESS WIRE)-- The Buxton Helmsley Group, Inc. (together with certain of its affiliates and clients, “BHG” or “we”), the New York City-based investment advisor to clients with significant holdings of Mallinckrodt Plc. (“Mallinckrodt” or the “Company”) (OTC: MNKKQ) common stock, and with the backing of other various shareholders, today issued an open letter responding to the departure of the Company’s Chief Communications Officer, Ms. Brandi Robinson.

The Company’s Senior Vice President of Finance, Ms. Kathy Schaefer, resigned on November 3, 2021, just days after an October 26, 2021, open letter to the Chairman and Commissioners of the U.S. Securities and Exchange Commission outlining/detailing numerous instances of fraud at the Company, including accounting fraud, bankruptcy fraud, electoral fraud, proxy fraud, and insider trading on undisclosed information by the Company’s board of directors and management.

BHG also publicly responded to Ms. Schaefer’s resignation on November 5, 2021, in an open letter, which may also be found at the link below.

The full open letter to the Company’s board of directors, in response to Ms. Robinson’s departure, may be found at (along with all previous letters): http://www.revivemallinckrodt.com/

Members of the Mallinckrodt Plc. Board of Directors: Mark C. Trudeau, Angus Russell, Anne C. Whitaker, Joann A. Reed, Carlos V. Paya (M.D., Ph.D.), J. Martin Carroll, Paul R. Carter, David Norton, Kneeland Youngblood, and David Carlucci.

About Buxton Helmsley: The Buxton Helmsley Group, Inc. ("BHG") is a premier financial service, asset management and securities research firm, providing an array of services to a diversified group of individuals, corporations, trusts and other entities. The firm is headquartered in New York City.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211112005846/en/

Media:

Public Relations and Corp. Comm.

The Buxton Helmsley Group, Inc.

Tel: +1 (212) 561 - 5540, Option 4

press@buxtonhelmsley.com

Source: The Buxton Helmsley Group, Inc.

FAQ

What are the recent allegations against Mallinckrodt (MNKKQ)?

Recent allegations include accounting fraud, insider trading, and various governance issues.

Who resigned from Mallinckrodt recently?

Brandi Robinson, the Chief Communications Officer, and Kathy Schaefer, Senior Vice President of Finance, resigned in November 2021.

How does the recent management turnover affect Mallinckrodt's stock (MNKKQ)?

Management turnover amid fraud allegations could negatively impact investor confidence and the stock's performance.

What did Buxton Helmsley Group state in their open letter regarding Mallinckrodt (MNKKQ)?

BHG's letter addresses the governance issues following the resignation of key executives and emphasizes shareholder concerns.