05.09.2021 11:00

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Koninklijke Philips N.V. of Class Action Lawsuit and Upcoming Deadline - PHG

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NEW YORK, Sept. 5, 2021 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Koninklijke Philips N.V. ("Philips" or the "Company") (NYSE: PHG) and certain of its officers.   The class action, filed in the United States District Court for the Eastern District of New York, and docketed under 21-cv-04606, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Philips securities between February 25, 2020 and June 11, 2021, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

Fighting for victims of securities fraud for more than 85 years (PRNewsfoto/Pomerantz LLP)

If you are a shareholder who purchased or otherwise acquired Philips's securities during the Class Period, you have until October 15, 2021 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.  To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980.  Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]           

Philips operates as a health technology company in North America, Greater China, and internationally.  The Company's products include, among others, Bi-Level Positive Airway Pressure ("Bi-Level PAP") and Continuous Positive Airway Pressure ("CPAP") devices, as well as mechanical ventilators.  Bi-Level PAP machines pump air under pressure into the airway of the lungs.  Bi-Level PAP machines have a higher pressure when users breathe in and lower pressure when users breathe out.  CPAP machines keep users' airway open by providing a continuous stream of air through a mask.  CPAP machines are devices prescribed to people with obstructive sleep apnea to keep their airways open during sleep.  Bi-Level PAP and CPAP machines use Polyester-based polyurethane, a sound abatement foam, to reduce sound and vibration.

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Philips had deficient product manufacturing controls or procedures; (ii) as a result, the Company's Bi-Level PAP and CPAP devices and mechanical ventilators were manufactured using hazardous materials; (iii) accordingly, the Company's sales revenues from the foregoing products were unsustainable; (iv) the foregoing also subjected the Company to a substantial risk of a product recall, in addition to potential legal and/or regulatory action; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

On June 14, 2021, Philips issued a voluntary recall of certain of its Bi-Level PAP and CPAP devices, as well as mechanical ventilators, after finding that the sound abatement foam used in the devices can degrade and become toxic, potentially causing cancer.

On this news, Philips' stock price fell $2.25 per share, or 3.98%, to close at $54.25 per share on June 14, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert--pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-koninklijke-philips-nv-of-class-action-lawsuit-and-upcoming-deadline--phg-301369496.html

SOURCE Pomerantz LLP

Nachrichten zu Philips N.V.

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  • Peer Group
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Um Ihnen die Übersicht über die große Anzahl an Nachrichten, die jeden Tag für ein Unternehmen erscheinen, etwas zu erleichtern, haben wir den Nachrichtenfeed in folgende Kategorien aufgeteilt:

Relevant: Nachrichten von ausgesuchten Quellen, die sich im Speziellen mit diesem Unternehmen befassen

Alle: Alle Nachrichten, die dieses Unternehmen betreffen. Z.B. auch Marktberichte die außerdem auch andere Unternehmen betreffen

vom Unternehmen: Nachrichten und Adhoc-Meldungen, die vom Unternehmen selbst veröffentlicht werden

Peer Group: Nachrichten von Unternehmen, die zur Peer Group gehören

Analysen zu Philips N.V.

  • Alle
  • Buy
  • Hold
  • Sell
  • ?
20.10.2021Philips BuyJefferies & Company Inc.
19.10.2021Philips BuyUBS AG
19.10.2021Philips HoldDeutsche Bank AG
19.10.2021Philips NeutralJP Morgan Chase & Co.
18.10.2021Philips HoldKepler Cheuvreux
20.10.2021Philips BuyJefferies & Company Inc.
19.10.2021Philips BuyUBS AG
18.10.2021Philips BuyJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
18.10.2021Philips BuyJefferies & Company Inc.
05.10.2021Philips OverweightBarclays Capital
19.10.2021Philips HoldDeutsche Bank AG
19.10.2021Philips NeutralJP Morgan Chase & Co.
18.10.2021Philips HoldKepler Cheuvreux
18.10.2021Philips NeutralJP Morgan Chase & Co.
11.10.2021Philips NeutralJP Morgan Chase & Co.
27.07.2017Philips UnderperformJefferies & Company Inc.
19.12.2016Philips UnderperformJefferies & Company Inc.
16.02.2016Philips Electronics UnderperformJefferies & Company Inc.
27.01.2016Philips Electronics ReduceHSBC
22.01.2016Philips Electronics SellS&P Capital IQ

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für Philips N.V. nach folgenden Kriterien zu filtern.

Alle: Alle Empfehlungen

Buy: Kaufempfehlungen wie z.B. "kaufen" oder "buy"

Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"

Sell: Verkaufsempfehlungn wie z.B. "verkaufen" oder "reduce"
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