homebusiness Newscompanies NewsDabur India shares dip as US subsidiaries sued over alleged cancer causing product
Dabur India shares dip as US subsidiaries sued over alleged cancer causing product
These cases have been filed in both federal and state courts in the US and in Canada. In the US, the federal cases have been consolidated into a Multi-District Litigation (MDL). Dabur's subsidiaries, namely Namaste, Dermoviva, and DINTL, have denied any liability and have engaged legal counsel to protect their interests in response to these lawsuits.
Dabur India Limited shares declined over 1.51% from the previous close on the BSE following the company's disclosure on October 18 regarding ongoing legal disputes involving three of its US subsidiaries.
As per the BSE filing, these cases are in the early stages of legal discovery and revolve around allegations that a hair-relaxer product contains chemicals that may pose risks of ovarian cancer, uterine cancer, and various other health issues.
These cases have been filed in both federal and state courts in the US and in Canada. In the US, federal cases have been consolidated into a Multi-District Litigation (MDL).
Dabur's subsidiaries, namely Namaste, Dermoviva, and DINTL, have denied any liability and have engaged legal counsel to protect their interests in response to these lawsuits.
Currently, the MDL encompasses approximately 5400 cases. However, it is essential to note that the final settlement amount, if any, cannot be determined as neither probable nor estimable at this time.
(Edited by : Amrita)
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