Overview
Cohen Milstein, as sole Lead Counsel, represents investors of Perrigo Company PLC, who allege the company failed to disclose critical issues about its infant formula operations, including with respect to the acquisition of the Gateway facility from Nestlé for $170 million on November 1, 2022. As a result of these issues coming to light, Perrigo’s stock prices plummeted.
Starting on February 27, 2024 and continuing through November 4, 2025 (the Class Period), Perrigo publicly reassured investors that its infant formula business would stabilize and return to growth, while internally experiencing significant challenges with infant formula manufacturing and its acquisition of the Gateway plant.
As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of Perrigo’s securities, investors claim they suffered significant losses and damages.
Important Dates & Rulings
- On February 13, 2026, Judge Margaret M. Garnett appointed the International Brotherhood of Teamsters Local No. 710 Pension Fund as Lead Plaintiff and Cohen Milstein as sole Lead Counsel.
- On November 17, 2025, the lawsuit was first filed as French v. Perrigo Company plc et al. Cohen Milstein joined the suit on January 16, 2026 to represent Perrigo investor, International Brotherhood of Teamsters Local No. 710 Pension Fund.
Case Background
Headquartered in Dublin, Ireland and Grand Rapids, Michigan, Perrigo is a manufacturer of infant formula and other over-the-counter health and wellness solutions sold throughout the United States and internationally. Perrigo’s “Nutrition” segment, which largely consists of infant formula sales, is the company’s third largest segment by sales in North America, representing approximately 17% of the company’s FY 2024 sales in that segment
In November 2022, Perrigo acquired Nestlé’s Gateway infant formula plant in Wisconsin, along with the U.S. and Canadian rights to Nestlé’s Good Start® infant formula brand, for $170 million.
Plaintiffs claim that during the class period, Defendants made materially false and/or misleading statements, as well as failed to disclose materially adverse facts about the company’s business, operations, and financials. Specifically, Defendants made materially false and misleading statements and failed to disclose to investors that: (1) the infant formula business acquired from Nestlé suffered from significant underinvestment in maintenance, operational improvements, and repairs; (2) Perrigo needed to make substantial capital and operational expenditures to remediate the infant formula business; and (3) the foregoing negatively impacted the company’s financial results, including earnings and cash flow.
The truth was revealed through a series of disclosures during the class period, which caused the stock price to drop precipitously.