Pomerantz Law Firm Initiates Class Action for Reckitt Benckiser Investors
In a crucial update for investors in Reckitt Benckiser Group Plc, the Pomerantz Law Firm has formally announced a class action lawsuit aimed at addressing recent concerns regarding possible securities fraud and other unlawful practices within the company. This lawsuit comes on the heels of notable legal challenges faced by Reckitt's subsidiary, Mead Johnson.
Background on the Lawsuit
The class action lawsuit revolves around allegations that Reckitt, along with certain officers and directors, has engaged in deceptive business practices that have adversely affected investors. Reports suggest a growing scrutiny over Reckitt's operations, particularly following a jury verdict against its Mead Johnson subsidiary. In March 2024, a jury awarded $60 million in damages after finding that Mead Johnson failed to adequately warn consumers about the risks associated with its cow's milk-based infant formula, which has been linked to severe health issues in premature infants, notably necrotizing enterocolitis (NEC).
This verdict led to an immediate decline in the price of Reckitt's American Depositary Shares (ADS), which fell by $1.87 to close at $11.44 per share on the same day. Following this, the situation worsened for Reckitt as a Missouri jury ruled in favor of Abbott Laboratories, awarding $495 million in a similar lawsuit on July 29, 2024. The findings against Abbott raised similar concerns regarding the risks associated with its baby formula, further impacting Reckitt's stock, which dropped by 9% to close at $10.64 per share after this news.
Key Dates and Actions for Investors
Investors who have suffered losses in Reckitt securities are advised to take action promptly. They have until
August 4, 2025, to petition the Court to be appointed as Lead Plaintiff in this class action. Individuals interested in joining the lawsuit are encouraged to reach out to Danielle Peyton of Pomerantz LLP either through phone or email. It is recommended they provide details such as their mailing address, telephone number, and the number of shares purchased.
By joining this class action, investors may be able to recover some of their losses incurred during the identified class period, thus participating in the broader legal effort to hold Reckitt accountable for alleged misconduct.
Pomerantz Law Firm Legacy
Established by the late Abraham L. Pomerantz, the firm has built a distinguished reputation in corporate, securities, and antitrust class action litigation over the past 85 years. Known for advocating for the rights of investors victimized by corporate fraud, Pomerantz LLP has successfully secured numerous substantial awards for class members in various previous litigations. The firm operates from major cities including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, embodying a commitment to upholding the principles of justice in securities fraud cases.
For detailed updates on the lawsuit, including how to join, interested parties can visit the firm’s website or reach out directly via the contact information provided.
Conclusion
The unfolding legal scenario surrounding Reckitt Benckiser is significant not just for the company's future but also for its investors who seek justice after substantial financial losses. Participation in this class action lawsuit could serve as a critical step for those impacted to reclaim their investments and seek accountability for alleged corporate negligence.
For more information or to discuss potential involvement in this class action, please contact Pomerantz LLP or visit their official website. www.pomerantzlaw.com*.