Abbott Laboratories

(NYSE: ABT)

Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Abbott Laboratories ("Abbott" or the "Company") on behalf of stockholders. A class action complaint has been filed against Abbott. The complaint alleges that defendants made numerous materially false and misleading statements and omissions concerning what the U.S. Food and Drug Administration ("FDA") called "egregiously unsanitary" conditions at the Company's Sturgis, Michigan ("Sturgis") facility. Specifically, defendants repeatedly touted to investors the safety and salability of Abbott's infant formula brands and their contribution to the Company's sales and revenue growth. In truth, Abbott's Sturgis facility was in flagrant violation of multiple federal and state health and safety regulations. The violations, which defendants willfully or recklessly concealed from investors, put Abbott's infant formula business in dire jeopardy and left Abbott exposed to a risk of severe regulatory action, including the recall of its products and closure of the Sturgis facility. By no later than February 2021 and continuing throughout the relevant time period, Abbott and defendants received direct warnings, communications, FDA inspection reports, and consumer complaints identifying in detail the safety and regulatory violations that were rampant at the Sturgis facility. As a result of defendants' misrepresentations and omissions, Abbott common stock traded at artificially inflated prices.

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Date of signing: 04/19/2024

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