Abbott Laboratories

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Abbott Laboratories (NYSE: ABT) between February 19, 2021 and June 8, 2022, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than October 31, 2022.

If you purchased Abbott securities between February 19, 2021 and June 8, 2022, and would like to join the prospective action, please click “Join This Class Action.”

Class Period:February 19, 2021 to June 8, 2022
If you purchased Abbott securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:

  • according to the U.S. Food and Drug Administration (“FDA”), Abbott had “egregiously unsanitary” conditions at its Sturgis, Michigan facility which produced nearing half of Abbott’s various forms of infant formula under the brands Similac, Alimentum, and EleCare;
  • as a result, Abbott’s infant formula business was in dire jeopardy given the flagrant violations of federal and state health and safety regulations;
  • based on inspections by the FDA between 2019 and 2022, Abbott failed to establish process controls “designed to ensure that infant formula does not become adulterated due to the presence of microorganisms in the formula or in the processing environment” and Abbott also failed to “ensure that all surfaces that contacted infant formula were maintained to protect infant formula from being contaminated by any source”;
  • the unhygienic conditions of the Sturgis facility resulted in the recall of Abbott’s infant formula and closure of the Sturgis facility; and
  • as a result, defendants’ public statements about Abbott’s business, operations, and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Abbott Laboratories
Stock Symbol: ABT
Class Period: February 19, 2021 to June 8, 2022
Court: U.S. District Court for the Northern District of Illinois

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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