Abbott faces SEC investigation over infant formula debacle
CBSN
Abbott Laboratories is facing investigations by the Securities and Exchange Commission and the Federal Trade Commission (FTC) in connection with its formula business, the company revealed in a recent SEC filing.
The developments are the latest in a series of inquiries into the factors that precipitated the company's Michigan factory shutdown and kickstarted a nationwide formula shortage.
Abbott received a subpoena from the SEC's Enforcement Division soliciting "information relating to Abbott's powder infant-formula business and related public disclosures" last December, the company said.
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