Companies Koninklijke Philips NV FollowAMSTERDAM, Sept 7 (Reuters) - Philips (PHG.AS) said on Thursday it has reached a settlement to resolve one category of legal claims against it following a major recall of the Dutch medical equipment maker's sleep apnea and respiratory devices.
The company had taken a 575 million euro ($615.48 million) provision in the first quarter of 2023 against estimated costs for economic loss claims.
The company still faces other legal actions over the recall, including personal injury claims, as well as an investigation by the U.S. Department of Justice.
However, the lawyers said in a joint statement they would continue to pursue personal injury and other claims against the company.
"We are confident in these claims and we look forward to holding Philips accountable for the physical harm they caused patients," they said.
Persons:
Philips, Steve Klink, Toby Sterling, Tassilo Hummel, Sudip Kar, Gupta, Susan Fenton, David Evans
Organizations:
Koninklijke Philips NV, Philips, U.S . Department of Justice, U.S . Food, Drugs Administration, Thomson
Locations:
AMSTERDAM