Below are comments from Buxton Helmsley’s Managing Director, Alexander E. Parker.
Q3 2021 hedge fund letters, conferences and more
Broadridge CEO Tim Gokey (also a member of The Wall Street Journal CEO Council), who was aware (named and sent letters, responded to by Broadridge General Counsel Laura Matlin) that Mallinckrodt Plc.’s board and management was engaging in “electoral fraud” via “intimidation” at the company’s August 13, 2021, annual general meeting, for which Broadridge was serving as the inspector of elections. Broadridge, with knowledge of the “electoral fraud”, refused to recuse themselves from certifying the legitimacy of the election results.
Deloitte & Touche CEO Punit Renjen, who serves as Mallinckrodt Plc.’s financial auditor, is also a member of The Wall Street Journal CEO Council. On November 3, 2021, Mallinckrodt Plc.’s SVP of Finance resigned, after Buxton Helmsley publicly pegged the company on accounting fraud in an open letter to the Chairman and Commissioners of the U.S. Securities and Exchange Commission. Buxton privately alerted Deloitte & Touche (every member of their board and senior management) of the fraudulent concealment of liabilities, in violation of FASB ASC topic 450-20-25-2, on September 23, 2021. Deloitte & Touche still stands by Mallinckrodt Plc.’s board and management, as the company claims liabilities are “hopelessly” true in the U.S. Bankruptcy Court, while Deloitte & Touche have not booked those liabilities in the company’s audited financial statements filed with the U.S. Securities and Exchange Commission (when that FASB ASC topic only requires liabilities meet a threshold of being “probable” for their requirement to be booked/accrued in a company’s accounting records).
The Wall Street Journal Tries To Cover Up Issues With Mallinckrodt
The Wall Street Journal had first picked up Buxton Helmsley’s story via PRNewswire on January 27, 2021.
The story’s location on the Wall Street Journal website has now disappeared and results in a 404 (“page not found”) error, as seen above: https://www.wsj.com/articles/PR-CO-20210127-912968
Since that story was picked up by The Wall Street Journal, Buxton Helmsley has been in continuous contact with reporters at the Wall Street Journal starting at the time Mallinckrodt Plc. was engaging in what Wikipedia recognizes as “electoral fraud” via “intimidation” (use of threats of legal action to interfere in a democratic process) at the August 13, 2021, annual general meeting of the company. The Mallinckrodt Plc. obtained a formal restraining order, in the midst of an election, for which prohibited “any act”, “directly or indirectly”, to “elect”, “remove”, “replace”, “nominate”, or “propose any matters to be acted on by Mallinckrodt shareholders”, as seen in the restraining order, enforceable against “any person or entity” which the board wished to prejudicially retaliate against for exercising their shareholder rights. After Buxton publicly proclaimed the election to be fraudulent, Mallinckrodt Plc.’s counsel sent a private letter to Buxton on August 2, 2021 (days ahead of the annual general meeting, and far past the deadline to submit director nominations and shareholder proposals), confessing that shareholder rights “remains subject to the Companies Act 2014 of Ireland and the Memorandum and Articles of Association of Mallinckrodt plc”, when they had already meddled in their democracy by threatening shareholders with contempt of court if they exercised those admitted rights, protected under Irish law and the company’s corporate governance documents. Broadridge General Counsel, Ms. Laura Matlin, acknowledged being aware of the restraining order enforceable against “any person or entity”, which the Mallinckrodt board and management could enforce against “any person or entity” they wished to prejudicially label as “acting in concert” (without limitation, as to who they were “acting in concert” with), “directly or indirectly”. Buxton Helmsley made The Wall Street Journal aware of that issue as it was exploding, including Mallinckrodt Plc.’s follow-on proxy fraud (where the company clearly realized their shareholder injunction was illegal, with Ireland’s Companies Act of 2014, § 212, absolutely prohibiting shareholder oppression), falsely stating, in their proxy statement for the annual general meeting, that director nominations and shareholder proposals were being accepted, when the Mallinckrodt Plc. board and management were threatening “any person or entity” with contempt of court, if a shareholder exercised those acts of director nominations and shareholder proposals being solicited by the company’s board and management. That shareholder injunction, in violation of the Companies Act of 2014, § 212, was obtained in the U.S. Bankruptcy Court claiming that an ongoing democracy would cause “irreparable harm”, failing to disclose that, while they sought to enjoin all shareholder rights and possibly called shareholder meetings, that the company would be statutorily required to call a “shareholder meeting” just two weeks later, pursuant to Ireland’s Companies Act of 2014, § 175.
When Buxton Helmsley uncovered insider trading of the board and management on undisclosed information (the company disclosed equity retention policy waivers for the board and management 5 months after already dumping hundreds of thousands of shares onto unsuspecting public market participants), Buxton Helmsley alerted the WSJ, which the WSJ still did not pursue a story on. Then, once Buxton Helmsley had published open letters on accounting fraud (willful concealment of contingent liabilities claimed to be “hopelessly” true, in stark violation of FASB ASC topic 450-20-25-2, requiring accrual of such liabilities even if merely “probable”), the WSJ still did not pursue a story.
Upon Buxton Helmsley filing an October 26, 2021, open letter to the U.S. Securities and Exchange Commission, calling on them to intervene in all instances of fraud, including accounting fraud, just days later, on November 3, 2021, Mallinckrodt Plc.’s SVP of Finance, Ms. Kathy Schaefer, resigned. Buxton Helmsley, yet again, e-mailed the editors at The Wall Street Journal, but no story was written. Not only did the WSJ not pursue a story after all of these events, but prior negative news publishings picked up by the WSJ suspiciously disappeared from The Wall Street Journal website (including, the January 27, 2021, story that they picked up from PRNewswire, upon that news being released by Buxton Helmsley). That January 27, 2021, publishing by The Wall Street Journal, included a link to open letters of Buxton Helmsley (via 13D filings), including all of the letters that detailed all fraud being engaged in under the leadership of Mallinckrodt Plc. CEO and director, Mark Trudeau, who is a member of The Wall Street Journal CEO Council. Mark Trudeau, sold the most shares, as detailed in form 4 filings with the U.S. SEC, upon the waiver of equity retention requirements, with that waiver never being disclosed by the Mallinckrodt Plc. board and management, until 5 months thereafter, when it was buried in a 10-K amendment filing on April 19, 2021, just days after Buxton Helmsley slammed the company’s management and board (during testimony in the U.S. Bankruptcy Court) for their sudden, large, and broad stock sales over the span of November 6, 2020, to November 16, 2020, with that equity retention waiver being secretly approved by the board on November 3, 2020, as buried deep in that April 19, 2021, 10-K amendment filing.
See more details below.
Email To WSJ's Reporter And Editor-In-Chief
From: Alexander E. Parker
Sent: Monday, November 8, 2021 3:22 PM
To: Jonathan Randles
Cc: Matt Murray
Subject: RE: Mallinckrodt Plc. Election Scandal
Messrs. Murray and Randles:
I wanted to reach out, as I was surprised to see that the WSJ had removed Buxton Helmsley’s January 27 press release surrounding Mallinckrodt Plc. I wondered why it suddenly disappeared, and why the WSJ would not be interested on a company explicitly committing accounting fraud (along with numerous other instances and types of fraud proven in great detail and evidence), with the SVP of Finance resigning days after the company was publicly called out and the U.S. SEC called on to intervene. It, however, made much more sense once I did some digging and found out that Mallinckrodt’s CEO (Mark Trudeau) is on the Wall Street Journal CEO Council. I have long believed and preached that the WSJ was the only respectable, non-biased news company I knew of, but I think it is safe to say that is far from my opinion now. You have other press releases far older than a few months old on the WSJ website, so it is utmost clear you took down that press release on purpose, because you are choosing to side with a company committing numerous instances of fraud, where the SVP of Finance has resigned over it already.
I will be forwarding this message to journalists far and wide, as I think they will also find it utmost interesting that corrupt executives engaging in explicitly proven and admitted fraud can not only merely “say the word” to the WSJ and have negative news about them removed, but also remain a candidate for the Wall Street Journal CEO Council. It is not a coincidence that news was removed from the WSJ website, while other older news releases remain published. One can easily wonder what material benefit the WSJ received to remove that negative news. I know everybody else will wonder the same. Why would the WSJ be interested in perpetrating numerous instances of fraud otherwise?
I have lost all respect for the WSJ, very truly. All proof of what is said herein can be found in the attached, including the 404 page which is found once you click the link to the WSJ pickup link within the PRNewswire release analysis/report.
Most Sincerely,
Alexander E. Parker
Senior Managing Director
The Buxton Helmsley Group, Inc.
