BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Reckitt Benckiser Group plc (“Reckitt” or the “Company”) (OTC: RBGLY) investors concerning the Company and its officers’ possible violations of federal securities laws.
On July 24, 2017, in connection with its second-quarter 2017 financial results, the Company recorded a £318 million charge related to ongoing U.S. Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) investigations into the Company’s former Reckitt Benckiser Pharmaceuticals Inc. operations, which was devoted to opioid addiction treatments.
On this news, the Company’s American depositary share price fell $1.01, or nearly 5%, to close at $20.34 on July 24, 2017, thereby injuring investors.
Then, on February 19, 2018, the Company recorded a £296 million charge as part of its full-year 2017 financial results as a result of the DOJ and FTC investigations, along with a new investigation into the Company by California Department of Insurance.
On this news, the Company’s American depositary share price fell $2.04, or over 10%, to close at $16.76 on February 19, 2018, thereby further injuring investors.
Then, on April 9, 2019, a criminal indictment was filed by the DOJ against Indivior plc (formerly Reckitt Benckiser Pharmaceuticals Inc.). The indictment detailed a long-term scheme by the Company to defraud investors and the general public through the marketing of Suboxone Film that led to more than $3 billion in illegitimate proceeds.
On this news, the Company’s American depositary share price fell $1.03, or over 6%, to close at $15.87 on April 10, 2019, thereby further injuring investors.
If you purchased Reckitt 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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