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