ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
Related topics
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

PHG Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Koninklijke Philips N.V. Investors of Class Action and Encourages Investors to Contact the Firm

August 24, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Aug 24, 2021--

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Koninklijke Philips N.V. (“Philips” or the “Company”) (NYSE: PHG) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Philips securities between February 25, 2020 and June 11, 2021, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/phg.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

ADVERTISEMENT

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Philips had deficient product manufacturing controls or procedures; (2) as a result, the Company’s Bi-Level PAP and CPAP devices and mechanical ventilators were manufactured using hazardous materials; (3) accordingly, the Company’s sales revenues from the foregoing products were unsustainable; (4) the foregoing also subjected the Company to a substantial risk of a product recall, in addition to potential legal and/or regulatory action; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/phg or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Philipsyou have until October 15, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

ADVERTISEMENT

View source version on businesswire.com:https://www.businesswire.com/news/home/20210824005046/en/

CONTACT: Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 |info@bgandg.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK NEW JERSEY

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Bronstein, Gewirtz & Grossman, LLC

Copyright Business Wire 2021.

PUB: 08/24/2021 11:00 AM/DISC: 08/24/2021 11:02 AM

http://www.businesswire.com/news/home/20210824005046/en