Lawsuit filed for Investors who lost money with shares of Reckitt Benckiser Group plc (OTC: RBGLY)

An investor, who purchased shares of Reckitt Benckiser Group plc (OTC: RBGLY), filed a lawsuit over alleged violations of Federal Securities Laws by Reckitt Benckiser Group plc in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Reckitt Benckiser Group plc (OTC: RBGLY) have certain options and for certain investors are short and strict deadlines running. Deadline: August 4, 2025. OTC: RBGLY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

United Kingdom based Reckitt Benckiser Group plc manufactures and sells health, hygiene, and nutrition products in the United Kingdom and internationally. Reckitt Benckiser Group plc (OTC: RBGLY) reported that its annual Total Revenue declined from over 14.6 billion GBP in 2023 to over 14.16 billion GBP in 2024, and that its Net Income declined from over 1.64 billion GBP in 2023 to over 1.42 billion GBP in 2024.

To date, over 500 state and federal products liability lawsuits have been filed against Reckitt Benckiser Group plc and its competitor, Abbott Laboratories ("Abbott"), claiming that they failed to adequately warn that premature infants consuming cow milk-based formulas, such as Reckitt Benckiser Group plc's Enfamil and Abbott's Similac, have an increased risk of developing necrotizing enterocolitis ("NEC"), a life-threatening intestinal disease that affects premature or low birth weight infants.

On March 15, 2024, in the case captioned Watson vs. Mead Johnson Co., Case No. 21-L-1032 (Ill. Cir. Ct. Oct. 28, 2021), a jury in St. Clair County, Illinois, returned a $60 million verdict in the first NEC lawsuit to be tried to a verdict. The jury found that Mead Johnson was negligent and failed to warn the decedent's mother of the increased risk her preterm infant could develop NEC by consuming cow's milk-based formula.

Then, on July 29, 2024 in the case captioned Gill v. Abbot Laboratories, Inc., Case No. 2322-CC1251 (Mo. Circ. Ct. Jun. 23, 2023), a jury in St. Louis, Missouri, concluded that Abbott's specialized formula for premature babies led to a baby developing NEC and awarded the plaintiff $495 million.

Shares of Reckitt Benckiser Group plc (OTC: RBGLY) declined from %19.30 per share in April 2021, to as $10.43 per share on August 06, 2024.

The plaintiff claims that between January 13, 2021, and July 28, 2024, the Defendants failed to warn investors and consumers that preterm infants were at an increased risk of developing NEC by consuming Reckitt's cow's milk-based formula, Enfamil, that of the attendant impact on Reckitt's sales of Enfamil and Reckitt's exposure to legal claims, and that as a result of the above, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Reckitt Benckiser Group plc (OTC: RBGLY) 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.