LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Abbott Laboratories (“Abbott” or “the Company”) (NYSE: ABT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Abbott was the subject of testimony by Dr. Robert Califf, the head of the FDA, before the Energy and Commerce Subcommittee of the U.S. House of Representatives related to the ongoing baby formula shortage throughout the United States. According to the New York Times, Dr. Califf “detailed ‘egregiously unsanitary’ conditions” at the Company’s Michigan plant, which contributed to the shortage. Dr. Califf testified that “’the inspection results were shocking’” and that “’we had no confidence in integrity of the quality program at the facility.’”
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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