philips ceo pulled into us lawsuit over faulty sleep devices
New York, donderdag, 19 februari 2026.
Philips CEO Roy Jakobs is now personally involved in a US lawsuit linked to defective sleep apnea machines. American investors blame him for downplaying health risks tied to the 2021 device recall. Though Philips settled earlier claims with a $1.1 billion payout, shareholders argue Jakobs misled them during his leadership of the healthcare division. A New York court allowed the case to expand, putting Jakobs directly in the legal crosshairs. Investors say internal decisions cost them millions as the scandal unfolded.
ceo under scrutiny in investor lawsuit
Roy Jakobs, current CEO of Philips, faces personal liability claims in a U.S. securities lawsuit filed by American investors. The case stems from the company’s 2021 global recall of certain CPAP and ventilator devices due to potential health hazards caused by degraded sound-abatement foam. Plaintiffs allege that Jakobs, who led the Connected Care division from January 2020 until October 2022, made misleading statements about known risks, contributing to financial losses as the share price fell following disclosures [1][2]. The New York federal court approved amending the complaint to include Jakobs alongside former CEO Frans van Houten [3].
financial fallout and shareholder claims
Investors assert damages resulting from delayed risk disclosure before the eventual product recall. They argue that insufficient warnings misled markets about the scale of potential liabilities. Despite Philips agreeing to a $1.1 billion settlement in 2024 to resolve related patient injury claims [1], shareholders maintain separate financial harm through diminished stock value [2]. The current litigation seeks compensation for investment losses attributed to alleged corporate opacity during Jakobs’ tenure overseeing the affected medical unit [3]. Philips formally opposes expanding individual executive liability in its 2025 annual report [1].
legal proceedings and corporate response
The amended lawsuit allows plaintiffs to pursue claims directly against Jakobs, though no ruling has been issued on whether he will ultimately face trial. Court records confirm the motion to add Jakobs as a defendant was granted in December 2025 [2]. Legal experts note such expansions typically require showing evidence of active misconduct or reckless disregard for truth in public statements [GPT]. Philips reiterated its position in filings seeking dismissal, arguing existing disclosures complied with regulatory obligations [1]. As of February 19, 2026, the company declined to comment further beyond its published stance [3].