NEW YORK, Oct. 13, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Abbott Laboratories
("Abbott" or the "Company") (NYSE: ABT) (ISIN: US0028241000).
Investors are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
9980.
The investigation concerns whether Abbott and certain of its
officers and/or directors have violated the federal securities
laws.
[Click here to join a class action]
On April 28, 2016, Abbott issued a
press release announcing a definitive agreement to acquire St. Jude
Hospitals, Inc. ("St. Jude"), citing St. Jude's "strong positions
in heart failure devices, atrial fibrillation and cardiac rhythm
management." On October 11, 2016,
pre-market, St. Jude issued a letter to physicians and patients
warning that batteries on thousands of the Company's implantable
defibrillators can quickly and unexpectedly deplete. St. Jude
stated that two people had died after their devices failed to work
correctly because of the drained battery, while 47 others reported
dizziness or fainting. The warning applies to devices made before
May 2015, which are in use by roughly
350,000 people worldwide. Abbott stated that the Company still
expects to close its acquisition of St. Jude by the end of this
year.
On this news, Abbott stock fell $2.34, or 5.38%, to close at $41.16 on October 11,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP