10/08/2019 05:00:00

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Reckitt Benckiser Group plc (RBGLY)

NEW YORK, Aug. 10, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Reckitt Benckiser Group plc (“Reckitt” or the “Company”) (OTCMKTS: RBGLY). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Reckitt and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 24, 2017, Reckitt announced, in connection with its second-quarter 2017 financial results, that it had recorded a £318 million charge related to ongoing U.S. Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) investigations into its former Reckitt Benckiser Pharmaceuticals Inc. (“Reckitt Pharma”) operations, the Company’s division dedicated to opioid addiction treatments.  On this news, the price of Reckitt American depositary shares (“ADSs”) dropped 5% to close at $20.34 per ADS on July 24, 2017, on abnormally high trading volume. 

On February 19, 2018, Reckitt announced, in connection with its full-year 2017 financial results, that it had recorded an exceptional charge of £296 million due to the DOJ and FTC investigations, and that the California Department of Insurance was also now investigating Reckitt.  On this news, the price of Reckitt ADSs declined more than 10% to close at $16.76 per ADS on abnormally high trading volume.  

Then, on April 9, 2019, the DOJ filed a criminal indictment against Reckitt Pharma (now Indivior), which detailed a years-long scheme to defraud the public and the Company’s investors through the marketing and sale of Suboxone Film that had generated more than $3 billion in illicit scheme proceeds.  The 28-count criminal indictment charged Indivior with multiple felonies, including conspiracy and mail, wire and healthcare fraud, and directly implicated the top executives of Reckitt and Reckitt Pharma.  On this news, the price of Reckitt ADSs declined over 6% to close at $15.87 per ADS on April 10, 2019, on abnormally high trading volume.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.


Robert S. Willoughby

Pomerantz LLP



Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
18 Aug
Da flere skribenter stadig gerne vil beholde tråden for samling af de mange vigtige informationer o..
23 Aug
For Genmab investorer bliver september måned en hot affære - der kommer i hvert fald en stribe nyhed..
19 Aug
Endnu en dansk patriark er død. Ære være hans minde.
18 Aug
Da Berlingske Media for cirka 1 år siden overtog Euroinvestor for 23 mio kr, meddelte de, at nu skul..
21 Aug
Trump er en forretningsmand, der bevæger sig med en forretningsmands hastighed. Han er fløjtende lig..
22 Aug
Jeg synes hun gjorde det fremragende i sagen om Grønland og Trump.   Det vigtigste i en sådan situat..
20 Aug
Ny artikel på Medwatch:   15,5 pct. af amerikanske patienter, der får en nyretransplantation i dag, ..
18 Aug
Fra anden skribent i Veloxis FB gruppen: Børsen side 4, søndag den 18. august. Et uddrag fra e..
20 Aug
  har du læst regnskabet - de forventer at tjene 4 mia i 2019 i forhold til en værdi af selskabet på..
19 Aug
En fantastisk dygtig og sympatisk erhvervsmand.  Og en ægte patriot som også betalte sin skat med gl..


EuroInvestor: In Focus


EuroInvestor: In Focus


EuroInvestor: In Focus

Most read news

  • 24 hours
  • 48 hours
  • 1 week
VGP NV: Record Amount of New Lease Contracts Solidifies Path of Continued Future Growth
MDxHealth: MDxHealth Notice of Interim Results 2019
DCHFA Finances Its Second Deanwood Affordable Rental Community of the Summer
SalMar – Results for the second quarter 2019
Fellow Finance growth continues according to the company strategy: turnover grew by 29,6%

Latest news

Copyright Berlingske Media 2019  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
24 August 2019 02:02:05
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20190819.1 - EUROWEB3 - 2019-08-24 03:02:05 - 2019-08-24 02:02:05 - 1000 - Website: OKAY