Investors with losses are encouraged to contact the firm before October 15, 2021; click here to submit trade information
LOS ANGELES, Sept. 14, 2021 (GLOBE NEWSWIRE) --
The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Philips N.V. (NYSE: PHG) investors that acquired shares between February 25, 2020 and June 11, 2021. Investors have until October 15, 2021 to seek an active role in this litigation.
It is alleged in this complaint that (i) Philips’ product manufacturing controls or procedures were deficient; (ii) Philips’ mechanical ventilators and Bi-Level PAP and CPAP devices were manufactured using hazardous materials, as a result; (iii) accordingly, Philips’ sales revenues in relation to the foregoing products were unsustainable; (iv) the foregoing also subjected Philips to a substantial risk of a product recall, as well as potential legal and/or regulatory action; and (v) Philips’ public statements were materially false and misleading at all relevant times, as a result.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 25, 2020 and June 11, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar