LOS ANGELES, June 17, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Koninklijke Philips ("Koninklijke" or the "Company") (NYSE: PHG) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Philips issued a voluntary recall of some of its sleep and respiratory care devices on June 14, 2021, due to health concerns. This product recall applies to Philip's Bi-Level Positive Airway Pressure (Bi-Level PAP) and Continuous Positive Airway Pressure (CPAP) devices, as well as its mechanical ventilators, in relation to the sound reduction foam that is used in these devices. Philips said that the foam can degenerate, releasing dangerous elements that can cause inflammation, irritation, headaches or even cancer, if inhaled. Philips stock dropped 3.98% that same day following this news, thereby damaging investors.

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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com

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