Philips Electronics will pay $1.1 billion to settle US lawsuits over defective sleep apnea machines, which were subject to a massive global recall due to potential health risks. The settlement amount is significantly lower than initial estimates of $4.5 billion, leading to a 35% surge in Philips' stock price. The lawsuits involved claims of personal injuries caused by degraded foam in the breathing devices.
Philips will pay $1.1billion to people who said company's $1,600 sleep apnea machines gave them CANCER https://t.co/d94NWr51b8 https://t.co/8ewydUb8Ip
A $1.1 billion settlement of US lawsuits by Philips over sleep-apnea devices only resolves current cases. It doesnβt set aside money for potential future cancer claims over the machines https://t.co/EuxaGfntII
Philips settles sleep apnea device lawsuits for $1.1 billion https://t.co/lWdUpAJgfT
New: The proposed settlement will effectively end more than 700 lawsuits filed after the 2021 recall of millions of the company's widely used sleep apnea devices and ventilators. https://t.co/UCBGqRUIjA
Wild. Last month, we saw a purchase of stock in the health tech company $PHG by Representative Earl Blumenauer. Yesterday, the company settled a U.S. respiratory device lawsuit. The stock has soared over 28% since. Blumenauer sits on a health subcommittee. https://t.co/ur4Lp9AjRO
πΊπΈ Philips settles lawsuits over defective sleep apnea machines for $1.1B https://t.co/v8mFnZVz6s
Icymi: Philips Posts Record Surge After US Sleep Apnea Settlement https://t.co/xsLXLBkE3x by @cagankoc
Philips Respironics has reached a $1.1 billion settlement over claims that people who used their CPAP and other breathing devices were harmed by noxious gasses and flecks of foam that lodged in their airways, sometimes for years. https://t.co/15e3z6Vb6Q
Philips pays $1.1B to settle sleep apnea device lawsuits https://t.co/r4GUs9KgAP
Dutch manufacturer Philips has agreed to pay $1.1 billion to settle lawsuits regarding some models of its devices to treat sleep apnea. https://t.co/aWiMxtwdaZ
Thousands of people with sleep apnea and other illnesses had sued the company, claiming flawed devices were harming them. https://t.co/uxDG4l740X
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
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
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