On Tuesday, 30 April, Mary Pieterse-Bloem, Professor of Financial Markets at Erasmus School of Economics, was part of BNR Nieuwsradio's investor panel. Together with Koen Bender, director of Mercurius Vermogensbeheer, she discussed Philips' €1 billion settlement in the sleep apnea affair.
Recently, it was announced that the company Philips reached a €1 billion settlement in the sleep apnea case; a major setback for the Dutch company. Yet, at one point, Philips' share price was 45% higher than its starting price. 'Very remarkable,' Pieterse-Bloem argues. Roy Jakobs, Philips' top executive, welcomes the settlement. After all, it removes the great uncertainty that the United States’ jury system brings.
Still, Philips is not completely rid of its legal problems. Although four cases have already been settled, six lawsuits are still pending. Pieterse-Bloem commented: 'the speed with which this settlement has been reached, is testament to how fast Philips is fighting its way through this legal battlefield. Nevertheless, six lawsuits are still pending, including one criminal case, so the uncertainty for investors is far from over.'
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You can listen to the full episode from BNR Nieuwsradio, 30 April 2024, here.