Reckitt Benckiser Group PLC Class Action Lawsuit - RBGLY
Case Summary
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The Reckitt Benckiser class action lawsuit seeks to represent purchasers or acquirers of Reckitt Benckiser Group PLC (OTC: RBGLY) American Depositary Shares (“ADSs”) between January 13, 2021 and July 28, 2024, inclusive (the “Class Period”). Captioned Elevator Constructors Union Local No. 1 Annuity & 401(K) Fund v. Reckitt Benckiser Group PLC, No. 25-cv-04708 (S.D.N.Y.), the Reckitt Benckiser class action lawsuit charges Reckitt Benckiser and certain of Reckitt Benckiser’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Reckitt Benckiser class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Reckitt Benckiser class action lawsuit must be filed with the court no later than August 4, 2025.
CASE ALLEGATIONS: Reckitt Benckiser is a United Kingdom-based global consumer goods company. According to the complaint, in 2017, Reckitt Benckiser acquired Mead Johnson Nutrition for $19.7 billion.
The Reckitt Benckiser class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) preterm infants were at an increased risk of developing Necrotizing Enterocolitis (“NEC”) by consuming Reckitt Benckiser’s cow’s milk-based formula, Enfamil; and (ii) Reckitt Benckiser failed to warn investors and consumers of the attendant impact on Reckitt Benckiser’s sales of Enfamil and Reckitt Benckiser’s exposure to legal claims.
The Reckitt Benckiser class action lawsuit further alleges that on March 15, 2024, in the case captioned Watson v. Mead Johnson Co., Docket No. 21-L-1032 (Ill. Cir. Ct. Oct. 28, 2021), a jury in St. Clair County, Illinois returned a $60 million verdict in the first NEC lawsuit to be tried to a verdict, with the jury finding that Mead Johnson was negligent and failed to warn the decedent’s mother of the increased risk her preterm infant could develop NEC by consuming cow’s milk-based formula. On this news, the price of Reckitt Benckiser ADSs fell nearly 14%, according to the complaint.
Then, on July 29, 2024, the Reckitt Benckiser class action lawsuit further alleges that in the case captioned Gill v. Abbot Laboratories, Inc., Docket No. 2322-CC1251 (Mo. Cir. Ct. Jun. 23, 2023), a jury in St. Louis, Missouri concluded that Abbott’s specialized formula for premature babies led to a baby developing NEC and awarded the plaintiff $495 million. On this news, the price of Reckitt Benckiser ADSs fell nearly 9%, according to the complaint.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.