Full and fair disclosure is at the heart of our nation’s securities laws. So red flags fly when a company is silent on facts of interest to investors.
That investing truth came to mind a little over a week ago, when the pharmaceutical giant Mallinckrodt Pharmaceuticals settled a yearslong investigation by the Federal Trade Commission. In the Jan. 18 complaint, the commission contended that Mallinckrodt and its Questcor subsidiary had engaged in anti-competitive behavior by acquiring the rival drug to their costly H. P. Acthar Gel — which goes for $38,000 a vial — and keeping it off the market to protect their profits.
