Abbott, Reckitt Stocks Rise on Baby-Formula Lawsuit Win
Shares of Abbott Laboratories and Reckitt Benckiser rose after the companies won a victory in litigation over the safety of some baby-formula products. Abbott shares rose 4% in early New York trading, while Reckitt’s shares were up 8% in London. A jury in Missouri state court found Reckitt’s Mead Johnson unit and Abbott weren't liable for injuries suffered by a boy who consumed their formulas designed for premature babies, following a civil trial.