Lawsuit filed for Investors in shares of Koninklijke Philips N.V. (NYSE: PHG)

An investor, who purchased shares of Koninklijke Philips N.V. (NYSE: PHG), filed a lawsuit over alleged violations of Federal Securities Laws by Koninklijke Philips N.V. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Koninklijke Philips N.V. (NYSE: PHG)have certain options and for certain investors are short and strict deadlines running. Deadline: October 15, 2021. NYSE: PHG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Netherlands based Koninklijke Philips N.V. operates as a health technology company in North America, Greater China, and internationally. Koninklijke Philips N.V. reported that its annual Total Revenue rose from over 19.48 billion EUR in 2019 to over 19.53 billion EUR, and that its Net Income increased from 1.16 billion EUR in 2019 to 1.18 billion EUR in 2020. On June 14, 2021, Koninklijke Philips N.V. 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. The plaintiff claims that between February 25, 2020 and June 11, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that Philips had deficient product manufacturing controls or procedures, that as a result, the Company's Bi-Level PAP and CPAP devices and mechanical ventilators were manufactured using hazardous materials, that accordingly, the Company's sales revenues from the foregoing products were unsustainable, that the foregoing also subjected the Company to a substantial risk of a product recall, in addition to potential legal and/or regulatory action, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Koninklijke Philips N.V. (NYSE: PHG) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.