Buxton Helmsley Publicly Responds to Resignation of Mallinckrodt Plc. SVP, Finance, Days After Open Letter to U.S. SEC Detailing Accounting Fraud

Rhea-AI Summary

The Buxton Helmsley Group (BHG) has issued an open letter regarding the recent resignation of Mallinckrodt Plc's Senior Vice President of Finance, Kathy Schaefer. This resignation comes shortly after BHG highlighted serious allegations against the company’s management, including various forms of fraud. BHG represents clients with substantial investments in Mallinckrodt and seeks accountability from its board of directors. The complete letter can be accessed through BHG's dedicated website.

Positive

• BHG's involvement may lead to increased scrutiny and potential accountability for Mallinckrodt's management.

Negative

• Kathy Schaefer's resignation raises concerns about leadership continuity and financial oversight amid serious allegations against the company.
• The fraud allegations could negatively impact investor confidence and the company's stock performance.

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 resignation of the Company’s Senior Vice President of Finance, Ms. Kathy Schaefer, occurring just days after BHG filed an open letter to the U.S. Securities and Exchange Commission outlining/detailing numerous instances of fraud, including accounting fraud, bankruptcy fraud, electoral fraud, proxy fraud, and insider trading on undisclosed information by the Company’s board of directors and management.

The full open letter to the Company’s board of directors, in response to Ms. Schaefer’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/20211105005812/en/

Media:

Public Relations and Corp. Comm.

The Buxton Helmsley Group, Inc.

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

press@buxtonhelmsley.com

Source: Buxton Helmsley

FAQ

What prompted the open letter from Buxton Helmsley Group regarding Mallinckrodt (MNKKQ)?

The open letter was prompted by the resignation of Kathy Schaefer, Senior VP of Finance, shortly after BHG filed allegations of fraud against the company's management.

What allegations were mentioned in the open letter related to Mallinckrodt (MNKKQ)?

The allegations include accounting fraud, bankruptcy fraud, electoral fraud, proxy fraud, and insider trading.

How might the resignation of Kathy Schaefer affect Mallinckrodt (MNKKQ)?

Her resignation could lead to concerns about financial oversight and continuity in leadership, particularly amid ongoing investigations into the company.

Where can I find the full open letter from Buxton Helmsley Group regarding Mallinckrodt (MNKKQ)?

The full open letter can be found on Buxton Helmsley Group's dedicated website.