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We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at firstname.lastname@example.org.
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The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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Los Angeles, CA 90067
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.