Dow Jones Newswires | A federal-court judge has ruled in favor of
Abbott Laboratories and its former subsidiary Hospira Inc. in a
case brought by former Abbott workers who alleged they lost benefits
after Hospira’s 2004 spinoff.
The plaintiffs in the long-running case — all Hospira employees –
failed to support their claims against the companies, U.S. District
Judge Robert Gettleman wrote in an order signed Thursday and posted
online Friday by the U.S. District Court for the Northern District of
Illinois.
The plaintiffs had four main complaints against the companies, including that Abbott communicated false information about the pension and retiree health benefits workers would receive if they accepted Hospira employment. But Gettleman found that “Hospira alone” made decisions about these benefits, and he said the companies acted appropriately regarding other accusations.
“After careful review of these materials, along with the testimony and exhibits offered at the trial, the court finds that plaintiff has failed to meet its burden under any of the four counts in the complaint,” the judge wrote in his order.
An attorney for the plaintiffs was unavailable for immediate comment, according to a spokesman.
Abbott shares were recently down 4 cents, at $51.08. Hospira traded down a penny, at $56.88. Abbott is a large maker of drugs and medical devices, while Hospira makes generic injectable drugs and medication-delivery tools.
This was a junk suit to begin with. Abbott still has MANY older workers it retained.