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What will be the financial impact on Abbott Laboratories' quarterly earnings due to the verdict by Q4 2024 earnings report?
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Abbott Laboratories' quarterly earnings reports, financial news websites
Story
Missouri Jury Orders Abbott to Pay $495 Million in Infant Formula Case
Jul 27, 2024, 12:32 AM
Abbott Laboratories has been ordered to pay $495 million in damages after a Missouri jury found that its specialized formula for premature infants caused a serious gastrointestinal disease in an Illinois girl. The jury determined that Abbott failed to warn about the increased risk of developing the potentially fatal bowel disease. The verdict was reached on Friday, with the jury awarding compensatory damages to the affected family. The case has led to a significant financial impact on Abbott, as reflected in the company's stock performance.
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