San Diego, Nov. 18, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Abbott Laboratories (NYSE: ABT) over breaches of fiduciary duty and other violations of the law by certain officers and directors at Abbott Laboratories was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Abbott Laboratories (NYSE:ABT) concerning whether certain of officers and directors Abbott Laboratories have possibly breached their fiduciary duties. Specifically, investigation focuses on whether officials at Abbott Laboratories allowed Abbott Laboratories to knowingly engage in repeated and persistent violations of Federal drug regulations through the routine 'off-label' marketing of Abbott Laboratories' anti-seizure drug Depakote and Depakote ER.
Shares of Abbott Laboratories (Public, NYSE:ABT) traded during May 2009 as low as $41.52 per share and rose during 2010 as high as over $55 per share. In 2011 NYSE: ABT shares rose from as low as $45.49 per share in January to $54.53 per share on November 11, 2011. However, despite that Abbott Laboratories reported an increase in its annual Revenue from $25.91billion in 2007 to $35.16billion in 2010, its Net Income fell from $5.74billion for '09 to $4.62billion in 2010.

On October 19, 2011, Abbott Laboratories disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) among other things that Abbott Laboratories had reserved $1.5 billion 'related to ongoing settlement discussions in the previously disclosed investigation by the U.S. Department of Justicerelated to Depakote.'