SEC's Enforcement Division sent Abbott a subpoena in December asking for information about its powder infant formula business and related public disclosures, the company revealed in a securities filing.
Abbott Laboratories is facing investigations from the Securities and Exchange Commission and Federal Trade Commission over its infant formula operation, marking the latest in a series of inquiries into the monthslong shutdown of a Michigan formula plant last year that kick-started a nationwide formula shortage.
The Department of Justice has also reportedly opened a criminal investigation into the formula shortage, which Abbott said it is cooperating with. The FDA has since said it has been unable to confirm whether bacterial contamination at the Michigan plant caused the deaths of two children and sickened several others.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Abbott under investigation by SEC and FTC for baby formula businessAbbott's recall ricocheted across American groceries and families' pantries, exacerbating an already mounting supply issue, and forcing families to scramble for what their babies needed for months.
Read more »
Abbott faces SEC investigation over infant formula debacleAbbott Laboratories is facing investigations by the Securities and Exchange Commission and the Federal Trade Commission in connection with its formula business, the company revealed in a recent SEC filing.
Read more »
FTC creating tech office putting AI, ad makers in crosshairs as last GOP commissioner exitsThe Federal Trade Commission is planning aggressive reviews of the tech sector through a new technology office that is taking aim at artificial intelligence and digital ad makers, as its last Republican commissioner heads for the exit.
Read more »
FTC Alleges Supplement Company ‘Hijacked’ Amazon Reviews to Boost SalesNutritional supplement company Bountiful Co. will pay $600,000 as part of an FTC case related to alleged “review hijacking” on Amazon
Read more »
FTC won't challenge Amazon's One Medical dealThe FTC has decided it won’t challenge Amazon’s $3.9 billion deal for primary care provider One Medical, according to a person with direct knowledge of the matter.
Read more »