Reckitt Benckiser Share Discussion Threads

[louis brandeis] 18/3/2024 10:28

"Most hypocritical sad bunch on the planet"

How true.

[dealy] 18/3/2024 08:25

up 10% from Friday low. shows what a crazy over reaction this was

[justiceforthemany] 17/3/2024 13:50

Abbott which faces the same claims, was only down 4%. Go figure.

[chachacha] 17/3/2024 12:50

This is nothing new. Americans always shaft foreign companies eg BP, Glaxo, Vod but turn a blind eye to their own. Most hypocritical sad bunch on the planet. Same goes for their geopolitics.This case could drag on for years. Stay clear.

[unastubbs] 17/3/2024 07:51

Tragedy sparks break up talk at Reckitt - Sunday Times

[unastubbs] 17/3/2024 05:18

Lawfare they call it. Another manifestation of anti-capitalist sentiment in the US. I have no idea how to play this. When I was younger I would have taken a position I think but it feels too much like gambling now. Not where I and my risk appetite want to be atm 😴

[pander45] 16/3/2024 23:36

Appeal it immediately. Ridiculous nonsense. Wheel in the lawyers. They cannot let this one go.

[justiceforthemany] 16/3/2024 16:19

The more one looks into this the more preposterous that award seems. Was the judge compromised? It's like something out of a John Grisham novel. The Illinois jury are clearly dense and wackos also.

[dealy] 16/3/2024 12:30

Normally, such a case requires conclusive proof that the product was directly at fault, above and beyond the associated warnings. Proving fault is difficult and expensive because it has to be conclusive. Investors are reacting as if they FDA had found the product to be unsuitable, whereas, in fact, just one judge / jury has deemed them to be at fault. That is not the same as an expert safety committee

[suetballs] 16/3/2024 10:03

Good stuff.
Suet

[careful] 16/3/2024 10:00

As someone wrote recently.
If a thief tries to steal your Rolex, then fight him for it.
But if a lawyer sues you for it, hand it over and be thankful you got off so lightly.

[suetballs] 16/3/2024 09:02

That’s the US culture for you - take the profits and sue for any losses.
Suet

[stingray71] 16/3/2024 08:56

This is what happens when the brew boy takes over as ceo

[careful] 16/3/2024 08:50

Telegraph quote 16% of Reckitt turnover is from baby formula.

I don't understand this American system.
They were after $25m and the jury awarded $60m.

What if the jury had said $150m. Do the lay jury decide ?

Is it assumed that all premature babies dying of this condition did so because they were fed Baby Formula?
And what is the % that die with the condition who did not have baby formula?
I understand that the fatality rate is up to to 40% for premature babies with that condition.

The whole judgement seems outrageous, I see the lawyers are bringing cases for those becoming ill after taking multiple Covid jabs, their latest money making wheeze.
The real problem is that there are more lawyers in America than engineers, and they all like to make a fat living.

[unastubbs] 16/3/2024 08:23

It's so bizarre, Abbot share price down less than three percent while at one stage yday Reckitt was down 20%. I don't know what proportion of revenues baby formulas make for Abbot but something is not functioning correctly in the UK market. If you had the cojones you might say that yesterday's price action was way too much and that it's already time to buy. I'm not that person!

[unastubbs] 16/3/2024 06:04

some broker comment

James Edwardes Jones, at the broker
RBC Europe, said that the ruling had
come “from completely left field. We
didn’t know this was an issue. Reckitt is
culpable in not warning investors specifically
that this was a risk, in our view.”
Analysts at Bernstein calculated that,
based on the number of outstanding
cases, “if the problem was shared
equally between Abbott and Reckitt,
that would be a $30 billion hit for
Abbott and a £23.6 billion hit for Reckitt
[or two thirds of its market cap].”


JP Morgan considered such a worstcase
scenario unlikely, however, saying:
“Reckitt plans to appeal this decision as
the company does not believe that the
plaintiff submitted sufficient evidence
and claims there were numerous errors
made in the trial.”

[philanderer] 16/3/2024 00:23

More than 400 suits targeting Mead Johnson and Abbott are consolidated before a federal judge in Chicago for pre-trial information exchanges. The judge hasn’t yet scheduled a trial.

Thousands of other suits are pending in state courts, Mr Keller said.

Reckitt continues to insist its products are safe and not linked to NEC. It has vowed to appeal the Illinois case.






“Based on the size of this fine, the share move is massively overstating the initial impact, which suggests investors are preparing for more to come,” Hargreaves Lansdown head of money and markets, Susannah Streeter, said in market comment.

[philanderer] 16/3/2024 00:17

Dead money here for a long time.


"...Several hundred similar claims have been filed in state and federal courts across the US targeting Reckitt’s Mead Johnson and another baby formula maker, Abbott.

"Roughly 450 of those cases have been grouped together in federal court for pre-trial purposes, and four have been selected as “bellwether” cases, but are still many months away from going to trial."

[pippa pinkerton] 15/3/2024 22:27

I could use 60million myself could buy plenty of designer bags and shoes Pips

[dealy] 15/3/2024 21:25

Well, that's hardly going to stick