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RBGLY.US

Reckitt (RBGLY) Securities $19.6M Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court
19-CV-15382
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.
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Filing date
15 July 2019
Plaintiffs
City of Birmingham Retirement and Relief System
Attorneys
AsherKelly (Southfield, MI), Robbins Geller Rudman & Dowd LLP (Melville, NY), VanOverbeke Michaud & Timmony, P.C. (Detroit, MI)
Defendants
Rakesh Kapoor, Adrian Hennah, Shaun Thaxster, Adrian Bellamy
Judge
Hon. Brian R. Martinotti
Administrator
Gilardi & Co LLC
Court hearing date
19 July 2023
Exclusion deadline
28 June 2023
Objection deadline
28 June 2023
Hearing deadline
28 June 2023
+$19,600,000
Total Settlement Amount
Created by Stan Vick, Scout

Reckitt Benckiser Group PLC ADR

Reckitt Benckiser Group plc manufactures and sells health, hygiene, and nutrition products worldwide. It offers acne treatment creams, facial washes, and cleansing pads; germ protection products; c...

    Ticker
    RBGLY.US
    ISIN
    US7562552049
    Sector
    Consumer Defensive
    Industry
    Household & Personal Products
    Country
    USA
    Address
    Turner House, Slough, United Kingdom, SL1 3UH