Philips shares soar after $1.1B settlement of sleep apnea-related claims
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Philips, a prominent medical equipment manufacturer, witnessed a record 37% surge in its shares in Amsterdam. This significant increase followed the company's announcement of a $1.1 billion settlement to resolve US claims related to their sleep apnea device recall. The settlement amount was notably less than market analysts' predictions, leading to an extraordinary rise in Philips's stock value.