Securities & Investment Fraud

Reckitt Benckiser Group plc Corporation Securities Class Litigation

Introduction

Securities fraud class action litigation has been filed on behalf of purchasers of the American Depositary Shares (“ADSs”) of Reckitt Benckiser Group plc (“RB Group” or the “Company”) (OTC BB: RBGLY).  If you purchased RB Group ADSs between July 28, 2014 through April 9, 2019, inclusive (the “Class Period”), you may move the court for appointment as lead plaintiff by no later than September 13, 2019.

You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action.  Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market.  We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.

RB Group investors may choose to have Lieff Cabraser review their claim by completing the contact form below.  You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.

Background on the RB Group Securities Class Litigation

RB Group is a consumer and healthcare company based in the United Kingdom.

The action alleges that during the Class Period, defendants perpetrated a scheme to facilitate opiate abuse among consumers and mislead investors regarding the health and safety risks of RB Group’s product Suboxone Film, in order to boost Company profits.

Specifically, the action alleges that in order to maintain and grow profits after the introduction of generic competitors to the Company’s product Suboxone Tablets, senior executives at RB Group devised a plan to switch prescribers from Suboxone Tablets to the Company’s new proprietary treatment, Suboxone Film.  RB Group executives planned and advanced a marketing campaign that touted the purported safety benefits of Suboxone Film over Suboxone Tablets, in order to prevent competition from generic manufacturers of the tablets.  Central to this campaign was the fabrication of safety concerns regarding existing treatments in order to delay the entry and approval of generic alternatives to Suboxone Tablets.

On July 24, 2017, RB Group announced that it had recorded a £318 million charge in the second quarter of 2017 in connection with ongoing U.S. Department of Justice (“DOJ”) and U.S. Federal Trade Commission investigations into the operations of its former division Reckitt Benckiser Pharmaceuticals, Inc. (“Reckitt Pharma”), which had been spun off into a subsidiary of RB Group in December 2014.  On this news, the price of RB Group ADSs declined $1.01 per share, or 4.73%, from the closing price of $21.35 on the previous trading day, to close at $20.34 per share on July 24, 2017, on elevated trading volume.

On February 19, 2018, RB Group announced that it had recorded another charge of £296 million due to the investigations, and that the California Department of Insurance had joined the investigations.  On this news, the price of RB Group ADSs fell $2.04 per share, or 10.85%, from the closing price on February 16, 2018, the previous trading day, to close at $16.76 per share on February 20, 2018, the next trading day.

On April 9, 2019, the DOJ filed a criminal indictment against Reckitt Pharma, which detailed extensive misconduct both prior to and after its spin-off from RB Group, in connection with a multi-billion-dollar scheme to defraud the public through the marketing and sale of Suboxone Film.  On this news, the price of RB Group ADSs fell $1.03 per share, or 6.09%, to close at $15.87 per share on April 10, 2019, the following trading day.

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II. TRANSACTIONS IN RB Group ADSs

Number of ADSs of RB Group held immediately before the start of Class Period on July 27, 2014:

From July 28, 2014 through April 9, 2019, inclusive, I made the following transactions in RB Group ADSs:

PURCHASES

Date
No. of Shares
Price

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SALES

Date
No. of Shares
Price

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During the 90 days after April 9, 2019, I made the following transactions in RB Group ADSs:

SALES

Date
No. of Shares
Price

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About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, and Nashville, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years.  In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.”  Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.”  In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”