We are moving forward with our loss recovery action in the Netherlands against Koninklijke Philips N.V., former CEO Frans van Houten, and former CFO Abhijit Bhattacharya. A recent ruling in parallel U.S. litigation marks a significant development that strengthens our case.
On September 23rd, 2024, a New York federal court ruled that the U.S. securities case against Philips and Van Houten can proceed (Patel v. Koninklijke Philips N.V.). The court found that there were sufficient allegations of misrepresentations and omissions regarding Philips' commitment to product safety and quality in reports and communications between 2015 and 2020.
While our Dutch action involves different allegations and covers a longer period, this U.S. ruling affirms the strength of our allegations and opens up an opportunity to benefit from the evidence-gathering phase of the U.S. proceedings.
We remain committed to pursuing justice for affected investors. If you wish to learn more or join the action, please contact us for additional information.
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