Philips, the Dutch medical device maker, has agreed to pay $1.1 billion to settle personal injury lawsuits in the United States related to its defective sleep apnea machines. The settlement resolves claims arising from a global recall of millions of the ventilators, which were found to expel debris and potentially cause cancer due to degraded foam. The resolution was significantly lower than the market's expectation, leading to a substantial increase in Philips' stock price, which soared up to 43%, resulting in a valuation of $28.9 billion.
Medical device maker Philips said Monday it will pay $1.1 billion to settle hundreds of personal injury lawsuits in the U.S. over its defective sleep apnea machines, which have been subject to a massive global recall. https://t.co/aiysKysigw
Philips has reached a settlement over claims that people who used its CPAP and other breathing devices were harmed by noxious gases and flecks of foam that lodged in their airways. https://t.co/Ljki6pXfkS
Medical device maker Philips will pay $1.1 billion to settle hundreds of personal injury lawsuits in the U.S. over its defective sleep apnea machines, which have been subject to a massive global recall https://t.co/o2oCokT6EU
Philips to settle hundreds of defective sleep apnea machine lawsuits for $1.1 billion. https://t.co/k4M61TljR4
Philips shares surged 35% early on April 29, as the medical device maker said it had agreed to pay $1.1 billion to settle all personal injury claims filed in the US, ending the uncertainty that had slashed its market value over the past three years https://t.co/BCIMPefevy https://t.co/lqVZ6fgxQj
Dutch medical device maker Philips said it had reached a $1.1 billion deal to settle US lawsuits over faulty sleep machines that have dogged the company https://t.co/RDifRwwsCo
Philips Settles for $1 billion in US Cases over Sleep Apnea Machines Linked to Cancer https://t.co/tJSCRqdmaK
Philips will pay US$1.1 billion to resolve U.S. lawsuits over breathing machines that expel debris https://t.co/bQMcVs6Ns1
Philips shares jump 37% resulting in a $28.9 billion valuation. https://t.co/0eojCLVjd6
Plaintiffs' attorneys and Koninklijke Philips and some of its American subsidiaries reached a $1.1 billion settlement agreement for plaintiffs claiming that degraded foam in their breathing machines caused them personal injuries. https://t.co/U25t9SJ4rL
Philips said it will pay $1.1 billion to settle claims in the United States over allegations tied to faulty breathing machines. Millions of Philips sleep apnea devices were recalled in 2021 over concerns that they carried a potential cancer risk. https://t.co/m6Opu9JYC9
Philips settles US sleep machine cases for $1.1 billion https://t.co/slZAVeN9Pl
$PHG skyrockets after reaching $1.1B settlement over respiratory device recall. Philips CEO Roy Jakobs discusses the settlement and the company's earnings: https://t.co/ealzrv2uYz
Philips Stock Is Having Its Best Day on Record. Litigation Settlement Was Less Than Feared. https://t.co/EkyypMQYna
The Agnellis’ risky Philips bet starts to pay off - https://t.co/v5h95541Yw - @LJucca https://t.co/oCLH2tooRc
Philips to pay $1.1-billion to resolve U.S. lawsuits over defective sleep apnea machines https://t.co/YNwWl3kq1x
Philips will pay $1.1 billion to resolve US lawsuits over breathing machines that expel debris https://t.co/C5WTnuqIxm
$PHG: Philips Electronics up 35% as Sleep Apnea lawsuit settlement less than feared, at $1.1bn vs estimates of $4.5 billion https://t.co/cWouJzJIN9
Philips shares rocket up after settlement of US respiratory device recall $PHG +34.16% https://t.co/wahafpbvOB https://t.co/wUHxPlUQAX
#Philips settles #US #SleepMachine cases for $1.1 billion https://t.co/CqpMKBlbto
"Much Milder Than Feared": Philips Shares Soar 43% After US Sleep Apnea Settlement https://t.co/1FQHkmMVIe
$PHG (+41.4% pre) Philips (PHG) Provides Update on Respironics Litigation - SI https://t.co/PPPjZQMgyk
Dutch medical device maker Philips says it's reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that's rocked the company. https://t.co/kvyEVjNrEY
Philips Posts Record Surge On US Sleep Apnea Settlement - BBG https://t.co/lmJN574YVW
Philips shares surged 35% early on April 29 as the medical devices maker announced a smaller-than-expected settlement to resolve claims over recalled breathing devices in the US https://t.co/BCIMPefevy https://t.co/fj9KM7DDK2
Philips shares soar 30% after U.S. litigation settlement far lower than feared https://t.co/V3kURCatYB
Dutch medical devices maker Philips said it had agreed to pay $1.1 billion in a settlement of personal injury cases in the United States related to the global recall of ventilators used to treat sleep apnea https://t.co/EG9H96LHyW
Dutch medical devices maker Philips said it had agreed to pay $1.1 billion in a settlement of personal injury cases in the United States related to the global recall of ventilators used to treat sleep apnea. More here: https://t.co/cHmgvSUYIF
Philips pays $1.1 bln in US settlement over ventilator recall https://t.co/57BKG3dZBP https://t.co/wGAHCIXB36
Philips settles sleep apnea claims in the US for $1.1 billion https://t.co/73FtCxCRfV
Federal Judge Grants Final Approval to Philips CPAP Settlement https://t.co/BD0N7QaHmi
A federal judge in Pennsylvania granted final approval to the Philips CPAP settlement https://t.co/FLAeTOe4iD via @thelegalintel
Pennsylvania Judge Grants Final Approval to Philips CPAP Settlement https://t.co/Ao9yiNLrGD