Philips' Unit Reaches Settlement With US Justice Department Over Recall Issue

02:12 AM EST, 11/03/2026 (MT Newswires) -- Koninklijke Philips (PHIA.AS) unit Philips Respironics reached an agreement with the US Department of Justice to resolve criminal and civil investigations related to a recall event, according to a Tuesday release. As such, the health technology company recorded a provision of 288 million euros in the third quarter. The settlement remains subject to finalization of the relevant documentation. The payment is expected to be made in the first quarter of 2027. Separately, the Enterprise Chamber of the Amsterdam Court of Appeal rejected investors' requests to probe Philips in connection with the Respironics recall during the third quarter.