May 21 (Reuters) - Activist investor Eminence Capital

has bought more stake in Reckitt Benckiser ( RBGPF ), owning at

least 0.5% of the consumer goods group's stock after it began

buying up shares in March, the Financial Times reported on

Tuesday, citing people familiar with the matter.

Eminence believed Reckitt's management could do more to

improve operating margins, the report said, adding that other

activist investors were also looking into Reckitt.

Eminence Capital is yet to meet Reckitt's board and

management in person, but has corresponded with the company and

is unlikely to push for a management shake-up, the report said.

Reckitt and Eminence did not immediately respond to Reuters'

requests for comments.

The development comes at a time when the consumer goods

group is seeking to

overturn

a $60 million verdict in a lawsuit related to its Enfamil

baby formula in the United States.

The London-listed shares of the company are down 16%

since the start of the year.

Reckitt said in its first quarter earnings report that

it faces "

contingent liabilities

" - a term used for those dependent on future events - from

a product liability suit filed against its Mead Johnson infant

formula business in the United States.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Janane

Venkatraman and Eileen Soreng

)