Class Action Against Abbott's Glucerna Products Proceeds in Federal Court
Portfolio Pulse from Vandana Singh
A California federal judge has allowed a class action lawsuit to proceed against Abbott Laboratories (NYSE:ABT) regarding its Glucerna products, which are marketed for people with diabetes. The lawsuit claims these products contain harmful ingredients like sucralose. The judge denied Abbott's motion to dismiss the case but granted the dismissal of the request for an injunction to amend the product labeling.
June 07, 2024 | 6:17 pm
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A class action lawsuit against Abbott Laboratories regarding its Glucerna products has been allowed to proceed. The lawsuit claims the products contain harmful ingredients like sucralose. The judge denied Abbott's motion to dismiss but granted the dismissal of the request for an injunction to amend the product labeling.
The continuation of the class action lawsuit could lead to negative sentiment around Abbott Laboratories, potentially impacting its stock price negatively in the short term. However, the dismissal of the injunction request may mitigate some of the negative impact.
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