ANP
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News from the NOS•today, 09:44
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Investors held Philips responsible for the stock market value that evaporated due to the problems with the fans. Investors’ association VEB sent a letter to Philips about this last night.
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According to the VEB, Philips has systematically misinformed investors. Before Research by the American FDA watchdog showed that Philips had been receiving signals since 2015 that there were problems with the foam particles of the apnea devices. These can potentially cause health damage if inhaled.
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Investors say they now appear to have bought Philips stock during that time at an artificially high price. If Philips had shared the signals earlier, they would have made a different decision, the VEB says.
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“16 billion have disappeared”
“They’ve pushed it under the rug for years, and even when it became known, the chairman of the board was able to downplay the problems,” says Gerben Everts, president of the VEB in the NOS Radio 1 News. “That a lot of things have gone well and that sometimes something can go wrong. Well, it went wrong.”
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According to a calculation by the VEB, 16 billion in market value have disappeared due to problems with the fans.
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Call back
The investor association wants to talk to the company about the compensation. Previously, Dutch patients also held Philips responsible for health problems that may have been caused by the Philips devices.
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Philips is recalling 5.5 million devices worldwide. One May ordered the Inspectorate of Health and Youth news hour knowing that the manufacturer is fundamentally and structurally deficient in handling that recall.
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Philips confirms that it has received the letter from VEB. The company claims to have acted correctly and with integrity and looks forward to a possible discussion with the VEB.
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