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What's the news story here? Isn't it typical business practice to need to account for potential pending liabilities.
by alberth 4y ago
What's the news story here?
Isn't it typical business practice to need to account for potential pending liabilities.
- ycombinete 4y agoParagraph 2 of the article: Philips had to recall millions of sleep apnea devices and ventilators due to potential health risks posed to users. If the sound-dampening foam in the devices made contact with certain cleaning materials, the foam could crumble, and users could breathe it in. “This quarter, Philips Respironics recorded a EUR 575 million provision in connection with the anticipated resolution of the economic loss class action, an important step in addressing the litigation related to the recall,” the company said.