An investigation on behalf of current long term investors in Reckitt Benckiser Group plc (OTC: RBGLY) shares over possible breaches of fiduciary duty by certain officers and directors was announced and OTC: RBGLY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/14/2020 -- An investigation on behalf of current long-term investors in shares of Reckitt Benckiser Group plc (OTC: RBGLY) concerning potential breaches of fiduciary duties by certain directors and officers of Reckitt Benckiser Group plc was announced.
Investors who are current long term investors in Reckitt Benckiser Group plc (OTC: RBGLY) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in OTC: RBGLY stocks follows a lawsuit filed against Reckitt Benckiser Group plc over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: RBGLY stocks, concerns whether certain Reckitt Benckiser Group directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 28, 2014 and April 9, 2019, the Reckitt and its most senior executives perpetrated a scheme, which generated over $3 billion in proceeds, to facilitate opiate abuse among U.S. consumers and mislead investors and the public regarding the health and safety risks of Reckitt's new key opiate product, Suboxone Film.
The complaint alleges that in order to maintain and grow profits, senior executives at Reckitt devised a plan to switch prescribers from Suboxone Tablets to the Company's new proprietary treatment, Suboxone Film. Suboxone Film had similar active ingredients to Suboxone Tablets, however it was dispensed in a thin film placed under the tongue and stored in single-use foil wrappings. Executives planned to create a marketing campaign that touted the purported safety benefits of Suboxone Film over Suboxone Tablets in order to prevent generic competition. Key to this campaign was fabricating safety concerns with existing treatments in order to delay the entry and approval of generics for Suboxone Tablets. Defendants' scheme to fraudulently inflate sales of Suboxone Film was a success. Between 2010 and 2014, the Company's revenues from sales of the drug increased ten-fold to over $840 million annually.
Those who purchased shares of Reckitt Benckiser Group plc (OTC: RBGLY) have certain options and should contact the Shareholders Foundation.
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