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Abbott Labs and Reckitt Benckiser Shares Fall After New Ruling on Infant Formula Case
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Shares of Abbott Laboratories and Reckitt Benckiser fell Friday after a judge ruled a new trial could be heard involving a case on their infant formula products that had already seen a ruling in their favor. Reckitt shares fell about 1.7% in London, while Abbott shares dropped nearly 3% in U.S. afternoon trading. Last October a jury had found the companies were not liable in a state lawsuit that alleged the companies’s infant formula products caused necrotizing enterocolitis, a debilitating intestinal disease that can cause bloating, vomiting and diarrhea in premature babies.