NEW ORLEANS, Oct. 18, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until October 31, 2022 Lead Plaintiff’s motions in a securities class action lawsuit against Abbott Laboratories AWAY, if you purchased the Company’s shares between February 19, 2021 and June 8, 2022 inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the Northern District of Illinois.

What you can do

If you have purchased Abbott stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free, without obligation and at no cost to you, at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-abt/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court October 31, 2022.

About the lawsuit

Abbott and certain of its executives are accused of failing to disclose material information during the Class Period in violation of federal securities laws.

On February 17, 2022, the U.S. Food and Drug Administration (“FDA”) announced that its inspection of the company’s Sturgis, Michigan facility, prompted by consumer complaints about infant illnesses, returned multiple positive contamination results for the associated bacterium Cronobacter sakazakii had resulted in teething and death. On the same day, without mentioning the FDA investigation, the company recalled certain infant formula products, including popular brands Similac, Alimentum and EleCare, all of which were manufactured in Sturgis. Abbott shares fell $3.79 per share, or 3.14%, on the news.

Then, on March 22, 2022, the FDA reported that its most recent inspection, conducted between January 31, 2022 and March 18, 2022, found that the…