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id: 521

Reckitt (RBGLY) Securities $19.6M Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
S.D. New York
Case number
28 Jul 2014
Class period Start
09 Apr 2019
Class period End
07 Jul 2023
Claim deadline
Reckitt Benckiser Group plc (RBGLY) agreed to pay $19.6 million to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that before and during the Class Period, Reckitt and its most senior executives perpetrated a scheme, which generated over $3 billion in proceeds, to facilitate opiate abuse among U.S. consumers and mislead investors and the public regarding the health and safety risks of Reckitt’s new key opiate product, Suboxone Film. Specifically, the Complaint alleged that in order to maintain and grow profits, senior executives at Reckitt devised a plan to switch prescribers from Suboxone Tablets to the Company’s new proprietary treatment, Suboxone Film, and that as a result of Defendants' false and misleading statements and/or omissions regarding the scheme to inflate sales of Suboxone Film during the Class Period, Reckitt ADSs traded at artificially inflated prices.
Case Status
Accepting Late Claims
Alleged Offence
Suspected Party
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Filing date
15 July 2019
City of Birmingham Retirement and Relief System
AsherKelly (Southfield, MI), Robbins Geller Rudman & Dowd LLP (Melville, NY), VanOverbeke Michaud & Timmony, P.C. (Detroit, MI)
Rakesh Kapoor, Adrian Hennah, Shaun Thaxster, Adrian Bellamy
Hon. Brian R. Martinotti
Gilardi & Co LLC
Court hearing date
19 July 2023
Exclusion deadline
28 June 2023
Objection deadline
28 June 2023
Hearing deadline
28 June 2023
Trades matching type
Cash Settlement Amount