Abbott's Baby Formula Brouhaha: Judge Says No Harm, No Foul in Contamination Controversy
Portfolio Pulse from Vandana Singh
U.S. District Judge Matthew Kennelly dismissed claims against Abbott Laboratories (NYSE:ABT) related to alleged bacteria contamination in their Similac baby formula. The judge stated that the parents lacked standing to sue as they did not show which products were contaminated or their children experienced symptoms.
May 23, 2023 | 4:37 pm
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Abbott Laboratories' lawsuit over alleged bacteria contamination in Similac baby formula has been dismissed by a U.S. District Judge.
The dismissal of the lawsuit is positive news for Abbott Laboratories as it removes a potential legal liability and negative publicity. This could lead to a short-term positive impact on the company's stock price.
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