In Re Abbott Laboratories Derivative Shareholders Litigation

HARLINGTON WOOD, JR., Circuit Judge.

This shareholder derivative suit arises from a consent decree between Abbott Laboratories (“Abbott”) and the Food and Drug Administration (“FDA”). The action was brought in federal court on behalf of Abbott shareholders against Abbott’s board of directors alleging that the directors breached their fiduciary duties and are liable under Illinois law for harm resulting from a consent decree which required Abbott to pay a $100 million civil fine to the FDA, withdraw 125 types of medical diagnostic test kits from the United States market, destroy certain…