Reckitt Benckiser Share Discussion Threads

[careful] 29/7/2024 15:11

Don't fully understand it.
The tobacco companies had billions of compensation liabilities, but they seemed to fade away over many years.
Why were Microsoft not sued for the recent chaos caused by their defective software?

American law, there are more lawyers than engineers in the USA and they all have to eat.

Will Trump have to pay out his billions of fines for the trivial Stormy Daniels thing, I doubt it.

[strawberry alarm clock] 29/7/2024 14:24

Yeah let's forget judges and have anarchy instead Just because you lost your money- there's no need to have a tantrum and stamp your feet - go and dry your eyes you sad pathetic loser

[mozy123] 29/7/2024 14:02

A very broken system when judges can destroy entire brands and company value by awarding damages based on pure emotion and lack of evidence. Sad really.

ABT and RKT should just say they are closing the manufacturing down. Cant run a tiny business when the damages are potentially 1000 years profits.

[laurence llewelyn binliner] 29/7/2024 13:09

USD495M liabilities for 1 case...

Close to 1,000 lawsuits have been filed against Abbott, Enfamil formula maker Reckitt Benckiser (RKT.L), or both in federal or state courts. More than 500 are centralised in an Illinois federal court, with others pending in Illinois, Missouri and Pennsylvania..

The first lawsuit to go to trial, against Reckitt in Illinois, ended with a USD60M jury verdict in March. Reckitt is appealing that verdict and has argued that the plaintiff's case relied on unsound expert testimony..

This is what bothers me most, the scale of multiple potential liabilities and payouts, currently uninvestable unless they can ring fence the liabilities, it could bankrupt Abbot for starters..

[rogen83] 29/7/2024 12:54

buy when there is blood in the water

[unastubbs] 29/7/2024 12:50

the numbers involved here are so eye-watering. i'm lost for words! i can only think that there is a certain section of US society that hates, simply loathes capitalism in whatever guise it may take and this is the preferred method by which to destroy it. the punitive award is so out of kilter with reality, so disproportionate that there has to be an emotional element to it. This will surely not be allowed to stand. It's fine to say that some adverse litigation costs are the "cost of doing business" but this is just ... well like i say words fail me!

i'm thinking of buying as I just do not see this being allowed to stand. but idk how much stomach i have for it!!

[girvin] 29/7/2024 11:51

Over reaction. Buy today for dividend payment 1/8/2024. Good long term entry point.

[strawberry alarm clock] 29/7/2024 11:30

4000 not far away nowBig RESPEK to the shorters

[lindowcross] 29/7/2024 10:54

We also have punitive or exemplary damages in England and Wales, but they are rarely awarded and by judges only

[lindowcross] 29/7/2024 10:52

hxxps://missourilawyershelp.org/lessons-plans/the-basics-government-and-law-2/chapter-3-the-judiciary-and-civil-litigation/

Looks like their are various routes of appeal for Reckitt to follow

[strawberry alarm clock] 29/7/2024 10:48

Will be going under 4000 over the coming days and we are gonna party and laugh hard at the Sceptard

[tlobs2] 29/7/2024 10:02

Are losses like this not insured against?

[strawberry alarm clock] 29/7/2024 09:27

This made me laugh 99% of IGs spreadbets on RKT are long MUGS

[dealy] 29/7/2024 09:23

This reminds me of the asbestos cases in the US with ABB 20 years ago. In the end ABB had to do a pre pack bankruptcy of the subsidiary. The topco survived though

[laurence llewelyn binliner] 29/7/2024 09:22

#Cumnor, Mead Johnson nutrition bought in 2017 now looks to be heading towards the divestment disposal route..

24.07.2024 - Reckitt plc will consider all strategic options for Mead Johnson Nutrition to maximise shareholder value over time. The business will continue to be led by the same world-class management team..

Damage limitation phase next, and focus on the power brands, a strategy that has helped ULVR deliver a strong CG this year..

[mozy123] 29/7/2024 08:56

Well at least its not just British companies being screwed.

They need to be careful what they wish for.

[sumday] 29/7/2024 08:53

As far as I’m aware the USA has punitive damages whereas we in the UK don’t. The punitive damages in this case were $400 million.

[mansell59] 29/7/2024 08:42

Buybacks have commenced

[strawberry alarm clock] 29/7/2024 08:41

The best thing about this saga is the Sceptard has lost loads of cash It's HILARIOUS

[suetballs] 29/7/2024 08:39

Market cap only £30b.
Suet

[lindowcross] 29/7/2024 07:54

I'm no expert in USA litigation but suspect the 'irrational exuberance " of American juries tends to be reversed by more sensible Federal judges. The big difference between here and there is we have judges determining liability and quantum in civil cases, they have juries.

[careful] 29/7/2024 07:51

It must be almost impossible to prove that the bowel disease was caused by the formula.
Statistics I suppose, and other possible causes.
A complex case.