Reckitt Benckiser Group plc : American Depositary Shares Securities Litigation
On or around 01/17/2020 (Date of last review)
Filing Date: July 15, 2019
According to the Complaint, Reckitt Benckiser Group plc is a consumer goods and health conglomerate.
The Complaint alleges that before and during the Class Period, Reckitt and its most senior executives perpetrated a scheme, which generated over $3 billion in proceeds, to facilitate opiate abuse among U.S. consumers and mislead investors and the public regarding the health and safety risks of Reckitt’s new key opiate product, Suboxone Film. Specifically, the Complaint alleges that in order to maintain and grow profits, senior executives at Reckitt devised a plan to switch prescribers from Suboxone Tablets to the Company’s new proprietary treatment, Suboxone Film and that as a result of Defendants’ false and misleading statements and/or omissions regarding the scheme to inflate sales of Suboxone Film during the Class Period, Reckitt ADSs traded at artificially inflated prices.
On September 26, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on January 16, 2020.
Company & Securities Information
Defendant: Reckitt Benckiser Group plc
Sector: Consumer Non-Cyclical
Industry: Personal & Household Products
Headquarters: United Kingdom
Ticker Symbol: RBGLY
Company Market: OTC-BB
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
City of Sterling Heights Police & Fire Retirement System, et al. v. Reckitt Benckiser Group plc, et al.