Investor Alert: Kaplan Fox Announces Investigation Of Reckitt Benckiser Group PLC

NEW YORK, July 24, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Reckitt Benckiser Group PLC ("Reckitt" or the "Company") (OTC: RBGLY).  A complaint has been filed against the Company and certain executives and/or directors. Investors that purchased Reckitt American Depositary Shares ("ADSs") between July 28, 2014 and April 9, 2019, inclusive (the "Class Period"), may be affected.

According to the complaint, on July 24, 2017, Reckitt announced, in connection with its second-quarter 2017 financial results, that it had recorded a £318 million charge related to ongoing U.S. Department of Justice ("DOJ") and Federal Trade Commission ("FTC") investigations into its former Reckitt Benckiser Pharmaceuticals Inc. ("Reckitt Pharma") operations, the Company's division dedicated to opioid addiction treatments. On this news, the price of Reckitt ADSs dropped nearly 5% to close at $20.34 per ADS on July 24, 2017.

According to the complaint, on February 19, 2018, Reckitt announced, in connection with its full-year 2017 financial results, that it had recorded an exceptional charge of £296 million due to the DOJ and FTC investigations, and that the California Department of Insurance was also now investigating Reckitt.  On this news, the price of Reckitt ADSs declined more than 10% to close at $16.76 per ADS on February 20, 2018.

Then, according to the complaint, on April 9, 2019, the DOJ filed a criminal indictment against Reckitt Pharma (now Indivior), which detailed a scheme to defraud the public and the Company's investors through the marketing and sale of Suboxone Film that had generated more than $3 billion in illicit scheme proceeds. The 28-count criminal indictment charged Indivior with multiple felonies, including conspiracy and mail, wire and healthcare fraud, and directly implicated the top executives of Reckitt and Reckitt Pharma.  On this news, the price of Reckitt ADSs declined over 6% to close at $15.87 per ADS on April 10, 2019.

If you are a member of the proposed Class, you may move the court no later than September 13, 2019 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

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SOURCE Kaplan Fox & Kilsheimer LLP