February 4, 2019 / 9:57 PM / a year ago

Abbott's Alere to resolve securities fraud case for $20 million

Alere Inc, now a unit of Abbott Laboratories Inc, has agreed to pay $20 million to resolve claims it made false and misleading statements to investors in the lead up to the announcement of a deal to sell the diagnostic testing company to Abbott.

The class action settlement, revealed in a court filing on Friday, came after a federal judge in Boston in 2017 narrowed the case and held the investors could only pursue claims that Alere failed to disclose the need to recall its INRatio device.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2D5JyI6

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below