By Michael SusinReckitt Benckiser shares tumbled after a U.S. court ruled against peer Abbott Laboratories in a key baby-formula case, with investors fearing a similar outcome for Reckitt's own litigation. Shares at 0910 GMT were down 9.8% at GBP40.45, and have fallen 31% over the last 12 months. The court ordered Abbott to pay $495 million in compensation after determining the company failed to warn its formula increased the risk of bowel disease. The case was one of thousands by families suing formula manufacturer, and prompted shares to drop 15%. Write to Michael Susin at michael.susin@wsj.com(END) Dow Jones NewswiresJuly 29, 2024 05:27 ET (09:27 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal July 29, 2024 15:17 UTC