NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of investors of Koninklijke Philips N.V. (“Philips”) (NYSE: PHG) resulting from allegations that Philips may have issued materially misleading business information to the investing public.
On October 11, 2017, Philips announced it reached an agreement with the U.S. Department of Justice to temporarily suspend the manufacture and distribution of certain defibrillators for the U.S. market to allow closer inspections and ensure it is in compliance with applicable U.S. Food and Drug Administration regulations. Philips advised investors that production would likely be halted until sometime in 2018 and could reduce earnings before interest, taxes and amortization by nearly 20 million euros in the fourth quarter of 2017, and by an additional 60 million euros in 2018. On this news, shares of Philips fell during intraday trading on October 11, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Philips investors. If you purchased shares of Philips, please visit the firm’s website at http://www.rosenlegal.com/cases-1219.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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