Plunges

Reckitt Benckiser Stock Plunges 15% as Jury Awards $60 Million in Damages Over Enfamil Baby Formula

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BELLEVILLE, Ill. – Reckitt Benckiser Group Plc, a UK consumer goods company, experienced a sharp decline in stock prices following a court ruling that awarded $60 million in damages to an Illinois woman. The jury determined that the company’s Enfamil baby formula played a role in the death of her premature baby. This case marks the first of its kind to proceed to trial in the United States. The verdict caused a 15% drop in Reckitt Benckiser Group’s stock, resulting in the company’s lowest level in a decade. This decline wiped out approximately £5.4 billion … Read more

Consumer Giant Reckitt Plunges as Jury Awards $60 Million Verdict in Formula Saga

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LONDON – Reckitt, a global consumer goods company headquartered in London, experienced a significant decline in its stock value following a jury verdict that ordered the company to pay $60 million. The verdict stemmed from a lawsuit over the formula of one of Reckitt’s products. The lawsuit alleged that Reckitt’s formula was misleadingly marketed as providing certain benefits that it didn’t actually deliver. The product in question, which was not specified, was said to have been advertised as having a specific effect, but the jury found that it did not live up to these claims. … Read more