Abbott Laboratories shares are trading higher after the company announced it along with Reckitt Benckiser won its first trial in premature-infant formula litigation and is cleared of allegations of hiding bowel disease risks.
Portfolio Pulse from Benzinga Newsdesk
Abbott Laboratories shares rose after the company, along with Reckitt Benckiser, won a trial related to premature-infant formula litigation, clearing them of allegations of hiding bowel disease risks.
November 01, 2024 | 4:58 pm
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Abbott Laboratories shares increased following a legal victory in premature-infant formula litigation, where the company was cleared of allegations of hiding bowel disease risks.
The legal victory removes a significant overhang on Abbott's stock, as the litigation posed potential financial and reputational risks. The market reacted positively, reflecting relief and improved investor sentiment.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90