Abbott Laboratories disclosed court preliminary approval of a proposed settlement in a consolidated shareholder derivative lawsuit over infant formula issues, featuring governance reforms and a $15.85 million attorney fee request.
Key takeaways
Court signed Order on April 10, 2026, preliminarily approving settlement of In re Abbott Laboratories Infant Formula Shareholder Derivative Litigation.
Settlement includes Abbott adopting corporate governance policies in Exhibit A to enhance legal and regulatory compliance oversight.
Final Settlement Hearing scheduled for June 4, 2026, at 9:30 A.M. in Chicago federal court.
Lead Plaintiffs’ Counsel to seek up to $15.85 million in fees and expenses, plus $15,000 service awards each.
Defendants deny wrongdoing but support settlement to avoid litigation costs and distraction.