Martingale Risk – Philips Shareholders Group Action to be Filed in the Netherlands
Martingale Risk, a specialist in global securities loss recovery, is originating a group action in the Netherlands against Philips on behalf of institutional investors, together with Grant & Eisenhofer as the Global Counsel and Old Haven Funding LLC as the Funder.
- Martingale Risk, a specialist in global securities loss recovery, is originating a group action in the Netherlands against Philips on behalf of institutional investors, together with Grant & Eisenhofer as the Global Counsel and Old Haven Funding LLC as the Funder.
- Upon receipt of this crucial information, Philips failed to proceed with any appropriate methods of risk analysis and to implement any corrective or preventive actions.
- Shareholders were not provided with any details regarding the severity of these matters nor the extent that Philips would be harmed financially, which in 2022 already resulted in €486 million in utilized provisions.
- Martingale Risk, as the originator of the group action, will bring the proceedings in the Netherlands to recover its clients’ investment losses, which occurred throughout the period Nov. 2015-Nov. 2021.