Scott+Scott Attorneys at Law LLP Again Alerts Investors of The Pending Class Action Against Reckitt Benckiser Group PLC (OTC: RBGLY)

Core Viewpoint - Scott+Scott Attorneys at Law LLP has filed a securities class action lawsuit against Reckitt Benckiser Group PLC, alleging misleading statements regarding the risks associated with its cow's milk-based formula, Enfamil, during the Class Period from January 13, 2021, to July 28, 2024 [1][3]. Group 1: Lawsuit Details - The lawsuit asserts claims under the Securities Exchange Act of 1934, specifically §§10(b) and 20(a), on behalf of individuals who purchased Reckitt American Depositary Shares (ADSs) during the Class Period [1]. - The case is titled Elevator Constructors Union Local No. 1 Annuity & 401(K) Fund v. Reckitt Benckiser Group PLC, et al., Case No. 1:25-cv-4708 [1]. Group 2: Allegations Against Reckitt - The Class Action alleges that Reckitt failed to disclose that preterm infants consuming its Enfamil formula were at an increased risk of developing necrotizing enterocolitis (NEC) [3]. - It is claimed that Reckitt did not adequately warn investors about the potential impact on sales and legal exposure related to the NEC risk [3]. Group 3: Market Reactions - On March 15, 2024, following a jury verdict in a related NEC lawsuit, Reckitt's ADS price fell by $1.87, or nearly 14%, from $13.31 to $11.44 per share [4]. - On July 29, 2024, after another jury verdict against Abbott Laboratories regarding NEC, Reckitt's ADS price dropped by $1.02, or nearly 9%, from $11.66 to $10.64 per share [5].