Recent Security Class Actions

Koninklijke Philips N.V. NY Registry Shares (NYSE: PHG)

Company Name:Koninklijke Philips N.V. NY Registry Shares
Stock Symbol:NYSE: PHG
Class Period Start:02/23/2016
Class Period End (inclusive):11/01/2022
Filing Deadline:10/15/2021

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, the Complaint alleges 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.