Home / Business and Economy / Court Rejects Philips Sleep Device Recall Probe
Court Rejects Philips Sleep Device Recall Probe
10 Oct
Summary
- Amsterdam court denied investor requests for an investigation.
- The probe was sought into Philips' handling of a 2021 sleep device recall.
- The court found no basis to justify an inquiry into the recall events.
An Amsterdam court has dismissed requests from investors seeking an investigation into Royal Philips NV's actions concerning a 2021 recall of its sleep apnea devices. The Enterprise Chamber of the Amsterdam Court of Appeal concluded that there were no grounds to warrant a formal inquiry into the circumstances of the recall.
This ruling means investors will not be able to pursue a deeper investigation into how Philips managed the recall process. The court's decision highlights a lack of sufficient justification for a probe into the specific events that led to the recall and its subsequent handling by the company.
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