Philips wins Dutch court battle with shareholders over recall

AMSTERDAM, Oct 10 (Reuters) A Dutch court on Saturday dismissed demands by shareholders of health technology company Philips for an investigation into ​allegations of misleading disclosures and management failures ‌linked to the company s recall of sleep apnea devices. • A large group of shareholders had demanded a court inquiry, as they said Philips executives had responded too late ‌to ​the problems that led to ⁠the massive recall and ⁠had failed to adequately inform investors. • Philips shares lost about two thirds of their value when the company recalled around 15 million sleep ​apnea devices in 2021, after discovering that the foam in the machines could release harmful ⁠substances and might pose health ⁠risks. • The Enterprise Chamber of the ​Amsterdam Court of Appeal in its ruling said it ​had found no indication that Philips had known ‌about the problems long before it issued any warning. • It also said there was no reason to assume executives should have intervened earlier a