Abbott is being investigated by the Securities and Exchange Commission, as well as the Federal Trade Commission, in relation to their infant formula business, the company disclosed in a new SEC filing. Abbott said in a filing Friday that they received a subpoena from the SEC’s Enforcement Division in December 2022 requesting "information about its powder infant-formula business and related public disclosures." In January, Abbott "received a civil investigative demand" from the FTC seeking information in connection with the agency’s investigation of companies that bid for infant formula contracts with the federal Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) program through USDA . In this May 17, 2022, file photo, bottles of Similac baby formula are seen at empty baby formula section shelves at a store due to shortage in the availability of baby formula, in New Jersey.Anadolu Agency via Getty Images, FILE Abbott’s disclosure of these inquiries come after the Justice Department had already launched a criminal investigation into Abbott’s infant formula manufacturing conduct, a source familiar with the matter told ABC News, after contamination concerns triggered a massive recall and shutdown at their Sturgis, Michigan, plant last year. An Abbott spokesperson told ABC News […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
