Abbott Labs (ABT) Reaches Settlements in Litigation Related to Direct Purchaser Class Action; to Pay $184M
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In a Form 8-K, Abbott Laboratories (NYSE: ABT) has reached settlements in the litigation pending in the United States District Court for the District of Delaware involving direct purchaser class action claims and claims brought by certain individual plaintiffs related to the sale of fenofibrate formulations.
Under the settlements, Abbott will pay approximately $184 million to resolve these claims. Settlement agreements have also been reached resolving some of the other previously disclosed fenofibrate litigation. The amounts in those settlements are not material. Abbott intends to treat the settlement payments as a specified item in Q408.
Abbott Laboratories engages in the development, manufacture, and sale of health care products worldwide.
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