Legal Issues

Pharmaceutical's former employees challenge benefits move in division spin-off

Published in Managed Care Weekly Digest, December 6th, 2004

Former employees of the hospital products division (HPD) of Abbott Laboratories (ABT) filed a complaint alleging that Abbott and Hospira, Inc. (HSP) unlawfully interfered with their rights to receive employment benefits in violation of the Employee Retirement Income Security Act of 1974 (ERISA).

The complaint, filed in the U.S. District Court in Chicago by the law firms Sprenger & Lang and Meites, Mulder, Burger & Mollica, stems from Abbott's decision on August 22, 2003, to terminate its HPD employees and to spin-off its hospital products businesses into a separate company, which was later named Hospira.

Approximately 10,000 HPD employees in the U.S....

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Source: Managed Care Weekly Digest (2004-12-06)

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