Trending...
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- New Mobile Car Detailing Platform Connects Drivers with On-Demand Local Pros
- Cal State LA secures funding for two artificial intelligence projects from CSU
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of Koninklijke Philips N.V. ("Philips" or the "Company") (NYSE: PHG) on behalf of investors concerning the Company's possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On April 26, 2021, Philips announced its first quarter 2021 financial results and reported a EUR 250 million provision for "a quality issue in a component that is used in certain sleep and respiratory care products." Specifically, the Company revealed "possible risks to users related to the sound abatement foam used in certain of Philips' sleep and respiratory care devices currently in use."
On this news, the Company's share price fell $2.32, or 3.8%, to close at $58.78 per share on April 26, 2021, thereby injuring investors.
More on The Californer
Then, on June 14, 2021, Philips issued a recall notification for certain devices "to address identified potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam component in these devices." Moreover, it stated that "[t]he majority of the affected devices within the advised 5-year service life are in the first-generation DreamStation product family."
On this news, the Company's share price fell $2.25, or 3.98%, to close at $54.25 per share on June 14, 2021, thereby injuring investors further.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Philips securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
If you are a shareholder who suffered a loss, click here to participate.
On April 26, 2021, Philips announced its first quarter 2021 financial results and reported a EUR 250 million provision for "a quality issue in a component that is used in certain sleep and respiratory care products." Specifically, the Company revealed "possible risks to users related to the sound abatement foam used in certain of Philips' sleep and respiratory care devices currently in use."
On this news, the Company's share price fell $2.32, or 3.8%, to close at $58.78 per share on April 26, 2021, thereby injuring investors.
More on The Californer
- VoiceGenie AI empowers small businesses with human-like call answering and customer engagement—bridging the gap between automation and live
- New 24/7 AI solution transforms customer engagement and efficiency for small businesses seeking live virtual receptionist services
- Next-generation virtual receptionist service leverages AI to ensure every customer call and text is answered, enhancing efficiency and engagem
- Next-Gen AI Receptionist Elevates Customer Communication, Boosts Efficiency for Small Businesses
- California: Governor Newsom signs legislation 7.14.25
Then, on June 14, 2021, Philips issued a recall notification for certain devices "to address identified potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam component in these devices." Moreover, it stated that "[t]he majority of the affected devices within the advised 5-year service life are in the first-generation DreamStation product family."
On this news, the Company's share price fell $2.25, or 3.98%, to close at $54.25 per share on June 14, 2021, thereby injuring investors further.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Philips securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Filed Under: Business
0 Comments
Latest on The Californer
- KCON LA 2025, 106.3 RAIN FM 'Take Over' Special Event
- IEI USA Launches SHIELD Rugged Stainless Steel Panel PCs for Hygiene-Critical Industries
- In historic first, California powered by two-thirds clean energy – becoming largest economy in the world to achieve milestone
- North Island Credit Union Foundation Provides $5,000 in Teacher Grants To Benefit Educators & Students
- The Citizens Commission on Human Rights Annual Purple Heart Day Event will be Hosted at the Historic Fort Harrison
- Blake Harris the Leading Authority in International Asset Protection Joins Tom Hegna on "Financial Freedom with Tom Hegna"
- Wise Business Plans Emerges as a Go-To Partner for Angel Investors, VCs, Family Offices and Private
- Psychedelics for Vets? CCHR Cites History of Exploitation and Failed Science
- Neurocrine Biosciences Presents One-Year Data Showing Sustained Efficacy of CRENESSITY® (crinecerfont) in Adult Patients, at ENDO 2025
- Mike Diamond Offers $775 Off Full Heating & A/C Installation for a Limited Time
- Mike Diamond Offers $99 Drain Cleaning to Help Los Angeles Homeowners Save
- GreenPal Empowers Lawn Care Pros Leveraging AI, Surpasses 5 Million Transactions
- Bilingual Children's Book Where Nopalitos Grow Added to Los Angeles Public Library Collection
- Bennett Awards Crafts Prestigious Custom Gold Trophies for VidCon's Inaugural Hall of Fame
- Santa Monica Businesses Push Back on Bus Stop Relocation That Threatens Access and Safety
- Montana-Inspired Music Team Scores Multiple International Nominations
- Mike Diamond Offers Free Sewer Camera Inspections to Help Homeowners Catch Problems Early
- Mike Diamond Offers $99 Priority & Premium Air Conditioning Protection in Anaheim, CA
- Garmin Approach R50: Redefining Home Golf Simulation
- California: Governor Newsom statement on the court temporarily blocking the Trump Administration's unlawful immigration tactics in the Los Angeles area