Press release from PR Newswire
The Law Firm of Levi & Korsinsky Launches an Investigation Into Possible Breaches of Fiduciary Duties and Unjust Enrichment by the Board of Directors of Abbott Laboratories, Inc.
Friday, December 02, 2011
The Law Firm of Levi & Korsinsky Launches an Investigation Into Possible Breaches of Fiduciary Duties and Unjust Enrichment by the Board of Directors of Abbott Laboratories, Inc.12:47 EST Friday, December 02, 2011NEW YORK, Dec. 2, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating potential claims on behalf of long-term shareholders of Abbott Laboratories, Inc. ("Abbott" or the "Company") (NYSE: ABT) concerning improper conduct by the Company regarding the marketing and sale of the anti-seizure medication Depakote.For more information, click here: http://zlk.9nl.com/abbott-laboratories-abt.From as early as 1998, Abbott is alleged to have trained sales representatives to promote off-label uses of Depakote and provide illegal kick-backs to physicians. Consequently, Abbott was investigated by the Department of Justice ("DOJ"). In an October 19, 2011 SEC filing, Abbott disclosed that the Company had reserved $1.5 billion of litigation reserves "related to ongoing settlement discussions" with the DOJ. The investigation focuses, among other things, on the conduct of Abbott's Board of Directors in affirmatively adopting, implementing, and condoning a business strategy based on deliberate and widespread illegal conduct that has now resulted in substantial potential damages to the Company.If you own Abbott common stock and wish to obtain additional information about this investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/abbott-laboratories-abt.html.Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud, representing investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com SOURCE Levi & Korsinsky, LLP