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Philips announced resolution of the US economic-loss class litigation in MDL 3014 (Sept 7, 2023 press release): predefined cash awards by device type, extended warranties, and a return bonus; Philips' release cites a EUR 575 million Q1 2023 provision and explicitly excludes personal injury and medical monitoring claims.
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By People's Justice
What happened
Philips announced resolution of the US economic-loss class litigation in MDL 3014 (Sept 7, 2023 press release): predefined cash awards by device type, extended warranties, and a return bonus; Philips' release cites a EUR 575 million Q1 2023 provision and explicitly excludes personal injury and medical monitoring claims. The commonly cited $479 million settlement figure is from secondary press coverage (Drugwatch), not Philips' own release — flagged accordingly.
Event date:
Source: usa.philips.com