Abbott, Hospira To Face Trial In ERISA Class Action

Law360, New York (July 15, 2008, 12:00 AM EDT) -- A class action brought by former employees over the 2004 spinoff of Abbott Laboratories Inc.'s hospital products business into Hospira Inc. is finally headed to trial after winding its way through court since November 2004.

On Thursday, the U.S. District Court for the Northern District of Illinois denied the defendants' motion for summary judgment.

The ruling allows the plaintiffs, who were given class action status in December 2005, to pursue their allegations that Abbott engineered the spin-off with the cost-saving goal of cutting employee benefits in...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.