Abbott

Abbott and Reckitt See Stocks Tumble Following $495 Million Baby Formula Lawsuit Verdict

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New York — Shares of Abbott Laboratories and Reckitt Benckiser Group PLC faced significant declines following a massive $495 million jury award against them. The verdict, stemming from a lawsuit tied to allegations of tainted baby formula, sent shockwaves through the market, reflecting deep investor concerns about potential financial repercussions and brand impact. The lawsuit accused the companies of negligence that resulted in serious health issues in children. Allegations pointed to baby formula produced by these manufacturers that was supposedly contaminated, leading to various health complications. Both companies have vigorously denied the claims and indicated … Read more

Jury Awards $495 Million in Landmark Verdict Against Abbott Over Infant Formula Linked to Severe Bowel Disease

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St. Louis, MO — A Missouri state court jury delivered a $495 million verdict against Abbott Laboratories on Friday, concluding that the company’s specialty infant formula contributed to a severe intestinal condition in a premature baby from Illinois. The ruling marks the first in a series of nationwide lawsuits targeting similar claims about the safety of such formulas. The lawsuit, initiated by Illinois resident Margo Gill, centered on the argument that Abbott failed to adequately warn of the risks associated with its formula, which can lead to necrotizing enterocolitis (NEC), a life-threatening disease affecting the … Read more

Missouri Jury Awards Mother $495 Million in Baby Formula Lawsuit Against Abbott Laboratories

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St. Louis, MO — A Missouri jury has ordered Abbott Laboratories to pay nearly a half-billion dollars in damages after finding that a baby formula produced by the company caused severe health issues in a newborn. The verdict awarded Margo Gill $95 million in compensatory damages and $400 million in punitive damages after her daughter suffered from a serious intestinal condition tied to the formula. The decision came after a lawsuit detailed how Gill’s daughter, identified only as R.D., was prematurely born on August 26, 2021, and later fed Similac, a formula by Abbott, at … Read more

$495 Million Verdict Against Abbott Laboratories as Jury Finds Baby Formula Linked to Severe Illness

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St. Louis, MO — Abbott Laboratories faced a significant financial blow after a St. Louis jury determined the company must pay $495 million in damages over claims that its baby formula contributed to a severe bowel condition in a premature infant. Following the announcement on Friday, shares of Abbott dropped by 5% in after-hours trading, signaling a rocky road ahead for the pharmaceutical giant. The lawsuit was filed by Illinois resident Margo Gill, who alleged that her premature daughter, Robynn, developed necrotizing enterocolitis (NEC) after being fed Abbott’s Similac formula. NEC is a dangerous gastrointestinal … Read more