Tag: class action

AMSTERDAM – Philips has recorded a EUR 575 million provision in the first quarter for the anticipated resolution of an economic loss class action related to its recall of certain sleep therapy and ventilator devices.  “As previously disclosed, Philips is a defendant in several class-action lawsuits and individual personal injury claims,” the company stated in a press release disclosing its financial results for the first quarter. “In the U.S., an economic loss class...