Reckitt, Abbott surge after winning an NEC case [Yahoo! Finance]
RECKITT BENCKISR GP S/ADR (RBGLY)
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Source: Yahoo! Finance
liable for a young boy's severe intestinal disease, marking a significant win for the companies after substantial losses in similar cases. The verdict dismissed claims that the companies had failed to adequately warn of risks associated with their infant formulas for premature babies. During the five-week trial held in St. Louis, Missouri, attorneys for the plaintiff, Kaine Whitfield, requested over $6.2 billion in damages. Reckitt shares surged more than 10% in London following the news, and Abbott stock added 5% in US premarket trading. "The decision reinforces what we, the medical community and regulatory bodies have said: that preterm infant nutrition products are safe," Abbott said in a statement. Mead Johnson echoed the sentiment, stating the verdict "demonstrates that the claims in this case were not supported by the science or experts in the medical community." The lawsuit, initiated by Kaine's mother, Elizabeth Whitfield, claimed that the companies had not suffici
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- Mead Johnson Welcomes Defense Verdict in Whitfield Case [Yahoo! Finance]Yahoo! Finance
- Jury asked to award more than $6 billion in preterm formula case against Abbott, Reckitt's Mead [Yahoo! Finance Canada]Yahoo! Finance Canada