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    PHIA   NL0000009538

PHILIPS NV

(PHIA)
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PHG Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Koninklijke Philips N.V. Investors of Class Action and Lead Plaintiff Deadline: October 15, 2021

10/11/2021 | 11:02am EST

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Koninklijke Philips N.V. ("Philips" or the "Company") (NYSE: PHG) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Philips securities between February 25, 2020 and June 11, 2021, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/phg.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Philips had deficient product manufacturing controls or procedures; (2) as a result, the Company's Bi-Level PAP and CPAP devices and mechanical ventilators were manufactured using hazardous materials; (3) accordingly, the Company's sales revenues from the foregoing products were unsustainable; (4) the foregoing also subjected the Company to a substantial risk of a product recall, in addition to potential legal and/or regulatory action; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/phg or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Philips you have until October 15, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.


ę Business Wire 2021
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Financials
Sales 2021 17 535 M 19 838 M 19 838 M
Net income 2021 3 567 M 4 035 M 4 035 M
Net Debt 2021 4 199 M 4 751 M 4 751 M
P/E ratio 2021 6,88x
Yield 2021 3,01%
Capitalization 27 100 M 30 591 M 30 658 M
EV / Sales 2021 1,78x
EV / Sales 2022 1,66x
Nbr of Employees 77 084
Free-Float 99,4%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 30,20 €
Average target price 45,15 €
Spread / Average Target 49,5%
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Managers and Directors
Frans van Houten Chief Executive Officer
Abhijit Bhattacharya Chief Financial Officer & Executive Vice President
Feike Sijbesma Chairman-Supervisory Board
Jan Kimpen Chief Medical Officer
Sophie Bechu Chief Operating Officer & Executive Vice President
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