October 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Abbott Laboratories (NYSE:ABT) shares over potential securities laws violations by Abbott Laboratories and certain of its directors and officers in connection certain financial statements 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 a series of statements by Abbott Laboratories regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Abbott Laboratories reported that its annual Total Revenue increased from over $20.24 billion in 2014 to over $20.4 billion in 2015 and that its Net Income rose from over $2.28 billion in 2014 to over $4.42 billion in 2015.

On April 28, 2016, Abbott Laboratories announced a definitive agreement to acquire St. Jude Hospitals, Inc. ('St. Jude'), citing St. Jude's 'strong positions in heart failure devices, atrial fibrillation and cardiac rhythm management.'
Then on October 11, 2016, pre-market, St. Jude Medical, Inc reportedly issued a letter to physicians and patients warning that batteries on thousands of the Company's implantable defibrillators can quickly and unexpectedly deplete. St. Jude Medical, Inc reportedly stated that two people had died after their devices failed to work correctly because of the drained battery, while 47 others reported dizziness or fainting. The warning applies to devices made before May 2015, which are in use by roughly 350,000 people worldwide.

Abbott Laboratories stated that the Company still expects to close its acquisition of St. Jude by the end of this year.

Shares of Abbott Laboratories (NYSE:ABT) declined on October 13, 2106 to $40.41 per share.