Abbott reaches settlement in shareholder derivative suit over infant formula; governance reforms, up to $15.85M fees

ABBOTT LABORATORIES

Settlement of consolidated derivative action alleging fiduciary breaches and securities violations related to infant formula recall.
Abbott to adopt corporate governance reforms; no admission of wrongdoing.
Lead plaintiffs' counsel seeks up to $15.85M in fees/expenses and service awards up to $15,000 each.
Court approval hearing set for June 4, 2026; shareholder objections due by May 18, 2026.
Dismissal with prejudice of all claims; governance enhancements to improve compliance oversight.

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