In the evolving landscape of corporate accountability, the Koninklijke Philips N.V. (NL) case stands out as a significant example of the consequences of failing to disclose material information to the market. This case, which centers on Philips’ alleged withholding of critical health risks associated with its sleep and respiratory care devices, has far-reaching implications for investors, regulators, and the broader corporate governance landscape. We are proud to be the first to act in this case, leading the first wave of institutional investors. Our team of experts has been meticulously preparing for this litigation, including hiring local counsel in the Netherlands, engaging economic experts, and developing a comprehensive damage methodology.
Three weeks ago we sent the first demand letter to Philips, marking a critical step towards resolution. This letter outlined the claims of our growing group of institutional investors, whose cumulative losses already exceed EUR 800 million. We are actively reviewing additional claims and expect this number to grow significantly in the coming months.
As legal experts and pioneers in global loss recovery, we believe in our duty to inform about such cases to the best of our ability. Below, we provide a detailed analysis of the case, including the stock price declines, the legal implications, and the broader lessons for institutional investors.