NEW YORK, June 27, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Abbott Laboratories ("Abbott" or the "Company") (NYSE: ABT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Abbott and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 25, 2022, Dr. Robert Califf, the head of the Food and Drug Administration ("FDA"), testified to the Energy and Commerce Subcommittee of the U.S. House of Representatives in connection with the ongoing baby-formula shortage affecting the U.S. As reported by The New York Times in an article entitled "F.D.A. Chief Details 'Shocking' Conditions at Baby Formula Plant", Dr. Califf "detailed 'egregiously unsanitary' conditions" at the Abbott plant in Michigan that was shut down in February, precipitating the shortage crisis. Dr. Califf testified that "'the inspection results were shocking'" and that "'[w]e had no confidence in integrity of the quality program at the facility[.]'"
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP