Abbott Faces Legal Setback as Shares Decline and Rival Company Feel the Pressure
Monday, 29 July 2024, 07:34
Legal Challenges for Abbott
A jury on Friday found that Abbott's specialized formula for premature infants caused an Illinois girl to develop a dangerous bowel disease. This decision has triggered a significant decline in Abbott's shares, marking an important event for the company.
Increase in Lawsuits
- Close to 1,000 lawsuits filed against Abbott Labs.
- Reckitt Benckiser also named in many lawsuits.
- Both companies have denied the claims.
Abbott plans to appeal this verdict, indicating that they will continue to contest the findings legally. The ongoing litigation might impact their reputation and financial outlook.
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