Levi & Korsinsky, LLP announces that an ABT class action lawsuit has been filed on behalf of investors who purchased Abbott Laboratories (ABT) This lawsuit is on behalf of all persons or entities who purchased or otherwise acquired shares of Abbott common stock during the period from February 19, 2021, to June 8, 2022, For more on the ABT Lawsuit please contact us today.
According to the Abbott Laboratories lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: the defendants touted the strength of Abbott’s infant formula brands and their contribution to the Company’s sales and revenue growth, despite knowing that the facility that manufactured those products was in flagrant violations of United States Food and Drug Administration (“FDA”) health, safety, and manufacturing regulations. The complaint further alleges that the defendants willfully or recklessly concealed these violations from investors, even though the violations put Abbott’s infant formula business in dire jeopardy and left the Company exposed to a risk of severe regulatory action, including the recall of its products and closure of the Sturgis facility. Indeed, according to the complaint, the 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
If you suffered a loss in Abbott Laboratories you have until October 31, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
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New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171