Ill. Court Gives Abbott Shareholder Access to Company Directors' Documents

ELGIN, Ill. -An appellate court has ordered Abbott Laboratories directors to give a shareholder any documents they possess relating to a federal investigation of a subsidiary's marketing practices. Corwin v. Abbott Laboratories, No. 02-MR-1055 (Ill. 2nd App. Dist.).

The Appellate Court of Illinois, Second District issued a three-page opinion on Dec. 13 affirming the Lake County (Ill.) Circuit Court's ruling in favor of Abbott shareholder Robert Corwin.

Corwin is pursuing a shareholder derivative action against Abbott over TAP Pharmaceuticals' marketing of the Lupron cancer drug. TAP announced in 2001 it would pay $875 million to settle charges it illegally marketed …