Overview

A class action lawsuit has been filed against Perrigo Company plc (“Perrigo” or the “Company”) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. Perrigo ordinary shares trade on the New York Stock Exchange (the “NYSE”) under the ticker symbol “PRGO.”

The Perrigo class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Perrigo securities between February 27, 2023, and November 4, 2025, both dates inclusive, (the “Class Period”).

The lawsuit alleges that Perrigo Company plc and its executives misled investors about the condition and performance of the company’s infant formula business following the acquisition of Nestlé’s Gateway manufacturing plant and the Good Start brand in November 2022. Perrigo promoted the $170 million acquisition as a strategic investment that would expand infant formula capacity, resolve prior supply constraints, and strengthen the business, asserting that only $60 million in additional spending would be needed to upgrade the facility.

According to the complaint, these assurances were false and misleading. The infant formula business Perrigo acquired allegedly suffered from years of underinvestment, operational deficiencies, and maintenance problems that required far greater remediation spending than the company disclosed. As a result, Perrigo was forced to incur significant unplanned costs, and its earnings, cash flow, and margin expectations were overstated.

The truth began to emerge on February 27, 2024, when Perrigo reported fiscal year 2023 results revealing $35–$45 million in additional cash costs tied to production and facility remediation, a 50 percent decline in earnings per share, and sharply reduced operating income in the infant formula segment. The stock fell more than 15 percent on this news. On May 7, 2024, Perrigo disclosed further negative impacts, including a 34.5 percent drop in net sales and margin deterioration due to remediation-related disruptions; shares dropped nearly 10 percent.

Problems continued into 2025. On August 6, 2025, Perrigo reported that production variability in infant formula caused an $11 million inventory scrap and contributed to a decline in gross margin, prompting another stock drop of more than 11 percent. Then, on November 5, 2025, the company announced a strategic review of the infant formula business, disclosed it was reassessing a previously announced $240 million investment, stated that the business had become “less strategic,” and sharply cut its 2025 financial outlook. Perrigo’s stock fell over 25 percent on this news.

The lawsuit alleges that throughout the class period defendants failed to disclose major manufacturing deficiencies at the Gateway facility, understated the capital spending required to remediate the business, overstated earnings and cash flow, and misrepresented the infant formula segment’s prospects. Investors suffered significant losses as the truth was gradually revealed, and Perrigo’s stock price declined.

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If you purchased or otherwise acquired Perrigo securities between February 27, 2023, and November 4, 2025, (the “Class Period”), you may be eligible to serve as lead plaintiff in this lawsuit. If you invested in Perrigo securities and wish to seek appointment as lead plaintiff, we encourage you to contact DiCello Levitt LLP by submitting your information through the form on this page.

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as lead plaintiff in the Perrigo class action lawsuit is January 16, 2026.