NEW
YORK, Sept. 23, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Abbott Laboratories (NYSE:
ABT).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/abbott-laboratories-loss-submission-form/?id=32068&from=4
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,
inclusive.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 31, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to the filed complaint, 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 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, 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 facility.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law