U.S. Stock Market News | Abbott Laboratories ordered to pay $495 million, shares drop more than 4.3%
On Monday, Abbott Laboratories' stock price fell, with the decline narrowing to over 5% from pre-market levels. As of the time of publication, the stock had fallen over 4.3% to $100.68. On the news front, a jury in the United States ruled that the company must pay a total of $495 million in compensation and damages ($95 million in compensation and $300 million in damages) for not informing consumers that its premature infant formula increases the risk of intestinal diseases. The jury found that the company's premature infant formula led to a girl in Illinois contracting a dangerous intestinal disease. This ruling marks the company's first trial, with courts across the United States handling hundreds of similar claims related to this formula. Abbott Laboratories is expected to appeal the decision
According to Zhitong Finance APP, on Monday, Abbott Laboratories (ABT.US) stock price fell, with the decline narrowing to over 5% from pre-market levels. As of the time of publication, the stock dropped over 4.3% to $100.68. On the news front, a jury in the United States ruled that the company must pay a total of $495 million in compensation and damages ($95 million in compensation and $300 million in damages) for not informing consumers that its premature infant formula increases the risk of intestinal diseases.
The jury found that the company's premature infant formula caused a girl in Illinois to develop a dangerous intestinal disease. This ruling is the company's first trial, with courts across the United States handling hundreds of similar claims related to this formula. Abbott Laboratories is expected to appeal