Philips Sleep Apnea Deal Leaves Opening for Future Cancer Claims [Financial Post (Toronto, Ontario, Canada)]
Koninklijke Philips N.V. NY Registry Shares (PHG)
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philips.com/a-w/about/investor.html
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Royal Philips NV's $1.1 billion settlement of US lawsuits targeting 5.5 million recalled sleep-apnea devices resolves only current cases and doesn't set aside monies for potential future cancer claims over the machines. The Dutch company has set aside €982 million ($1.1 billion) to fund a settlement of allegations that the faulty sleep-aiding machines pose a cancer risk because of deteriorating sound-dampening foam. The deal also provides funds to cover doctors' bills as users monitor their future health. Article content Article content The accord seeks to resolve about 60,000 US suits over so-called continuous positive airway pressure, or CPAP, devices, which were targeted by US regulators in 2021. But it sets aside no funds for future illnesses allegedly caused by the recalled machines, Philips officials acknowledged. Cancers some researcher
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News
- Philips presents study results at Heart Rhythm Annual Meeting demonstrating benefits of its AI-powered cardiac monitoring solutionsGlobeNewswire
- Koninklijke Philips (NYSE: PHG) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Philips announces exchange ratio for 2023 dividendGlobeNewswire
- Philips' (PHG) Gets FDA Recall for Trilogy Ventilator Glitch [Yahoo! Finance]Yahoo! Finance
- Philips sues CPAP cleaning product maker, saying it should pay part of settlements [Reuters]Reuters
PHG
Earnings
- 1/29/24 - In-Line
PHG
Sec Filings
- 5/16/24 - Form SC
- 5/15/24 - Form 6-K
- 5/14/24 - Form S-8
- PHG's page on the SEC website