Abbott Labs falls after jury awards plaintiff $95M in damages in baby formula case [Seeking Alpha]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: Seeking Alpha
Louis awarded a plaintiff $95 million in compensatory damages over claims the company's baby formula caused a potentially deadly bowel disease. Illinois resident Margo Gill sued Abbott alleging that her premature baby girl developed necrotizing enterocolitis, or NEC, and suffered brain damage after being fed Abbott's ( ABT ) Similac formula. The jury came to the verdict on Friday and will decide punitive damages later on Friday night, a court observer told Seeking Alpha. Abbott Labs ( ABT ) didn't immediately respond to Seeking Alpha email request for comment after normal business hours. Abbott Labs ( ABT ) and competitor Reckitt Benckiser's ( OTCPK:RBGPF ) Mead Johnson business are facing more than 1,000 lawsuits that allege that the companies failed to warn parents about the NEC risks with cow's-milk-based products. In the first case to go to trial in March, Reckitt Benckiser was ordered to pay $60 million in damage s to a mother whose premature child died after consuming th
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ABT
Earnings
- 7/18/24 - Beat
ABT
Sec Filings
- 9/4/24 - Form 4
- 9/4/24 - Form 4
- 9/4/24 - Form 144
- ABT's page on the SEC website