Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Abbott Laboratories (“Abbott”) (NYSE: ABT) breached their fiduciary duties to Abbott and its shareholders.
The investigation concerns whether members of Abbott’s board of directors or senior management failed to manage Abbott in an acceptable manner, in breach of their fiduciary duties to Abbott, and whether Abbott and its shareholders suffered damages as a result.
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On May 16, 2022, the U.S. filed a lawsuit and proposed consent decree against Abbott claiming that Abbott manufactured powdered infant formula under conditions and using practices that failed to comply with regulations designed to ensure the quality and safety of infant formula.