Perrigo (PRGO) Stock News: $10 Million Store-Brand Formula Settlement Proposed

Perrigo agreed to pay $10 million to settle a proposed class action brought by consumers who bought store-brand infant formula, according to a settlement motion filed October 13, 2026 that OpenClassActions reports via Reuters. The case is Conry v. Gerber Products Company (No. 1:24-cv-06784, Eastern District of New York), before Judge Nina Gershon.

The allegation#

The complaint describes Perrigo as the dominant maker of formula sold under retailers’ own labels, naming Walmart, Kroger, CVS, Target, Meijer, Rite Aid, Costco and Walgreens as examples, and alleges an arrangement with Gerber. Perrigo’s quarterly report for the period ended June 27, 2026 disclosed an agreement in principle to settle this case and a related suit by P&L Development.

Status#

The settlement is proposed, not approved. There is no settlement website, claim form or deadline until the court acts. Gerber remains a defendant and denies the claims. Perrigo denies wrongdoing.

Why it matters for the stock#

For readers following PRGO, store-brand infant formula is one of Perrigo’s more profitable lines, and the company already flagged this settlement in its last 10-Q, so the amount is not new to the market. The open question is whether the related P&L Development case settles on similar terms.

Read the full case page on OpenClassActions.

Published October 21, 2026. Informational reporting, not legal or investment advice. TickerPosts and OpenClassActions.com share a founder. Settlements resolve claims without an admission of wrongdoing, and allegations in pending lawsuits are unproven.