NEW YORK, June 22, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Koninklijke Philips N.V. («Philips» or the «Company») (NYSE: PHG). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Philips and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 14, 2021, Philips issued a voluntary recall of certain of its Bi-Level Positive Airway Pressure (Bi-Level PAP) and Continuous Positive Airway Pressure (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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP