Abbott said they are cooperating with the government investigations.
February 18, 2023, 8:21 PM ET
• 5 min read
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…