Court upholds $495 million verdict against Abbott Laboratories in case over preterm infant formula [Yahoo! Finance]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: Yahoo! Finance
The decision is the latest blow for Abbott over the issue of whether its formula for babies born prematurely causes a devastating intestinal disease called necrotizing enterocolitis (NEC). Abbott now faces more than 1,700 lawsuits across the country over the matter. Last month, Abbott lost four cases in Cook County Circuit Court, with a jury awarding $70 million in damages In the latest decision Tuesday, the Missouri appellate court upheld $495 million in damages awarded by a St. Louis jury in July 2024. The jury reached its verdict following a three-week-long trial during which Illinois resident Margo Gill alleged her daughter Robynn Davis was given Abbott's formula for premature infants after she was born at 26 weeks gestation, causing her to develop NEC. Davis, who was born in 2021, underwent extensive surgery because of her NEC diagnosis and continues to suffer from long-term health issues. The jury awarded $95 million in compensatory damages and $400 million in punitive da
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ABT
News
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- HIV Diagnostics Market Size to Value USD 2.10 Billion by 2035, Growing at a 5.10% CAGR – SNS Insider [Yahoo! Finance]Yahoo! Finance
ABT
Earnings
- 4/16/26 - Beat
ABT
Sec Filings
- 5/27/26 - Form SD
- 5/15/26 - Form 144
- 4/29/26 - Form 4
- ABT's page on the SEC website