By Michael SusinReckitt Benckiser lost almost $7 billion in market value after a jury in an Illinois court sided with a plaintiff in a case relating to its Enfamil infant formula. London-listed shares in the U.K. consumer-goods company closed nearly 15% lower at GBP44.86 on Friday, according to FactSet, giving the group a market value of almost GBP31.95 billion ($40.74 billion). The rout came after it was reported that an Illinois jury ordered the company's infant-formula unit, Mead Johnson, to pay $60 million in compensation related to the death of a premature baby who was fed Enfamil. Mead Johnson Nutrition Company was acquired by Reckitt in June 2017. Write to Michael Susin at michael.susin@wsj.com(END) Dow Jones NewswiresMarch 15, 2024 14:03 ET (18:03 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal March 16, 2024 06:10 UTC