Abbott, Hospira Off Hook In ERISA Class Action

Law360, New York (April 26, 2010, 3:05 PM EDT) -- A federal judge has ruled that Abbott Laboratories Inc. had a sound strategic reason for spinning off its hospital products division in 2004, absolving the health care product maker of allegations from a class of former employees that the split violated the Employee Retirement Income Security Act.

The plaintiffs fell short of discrediting key witnesses and proving Abbott intended to strip employees of retirement benefits when it created Hospira Inc., Judge Robert W. Gettleman ruled Thursday after an eight-day bench trial in the U.S. District Court...
To view the full article, register now.