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IN RE ABBOTT LABORATORIES DERIVATIVE SHAREHOLDERS

No. 01-1952.

325 F.3d 795 (2003)

In re ABBOTT LABORATORIES DERIVATIVE SHAREHOLDERS LITIGATION.

United States Court of Appeals, Seventh Circuit.

Decided March 28, 2003.

Rehearing and Rehearing Denied May 27, 2003.

Attorney(s) appearing for the Case

Terry Rose Saunders, Chicago, IL, Robert P. Frutkin (argued), Philadelphia, PA, for Plaintiffs-Appellants.

Michele Odorizzi (argued), Mayer, Brown, Rowe & Maw, Chicago, IL, Phil C. Neal, Neal, Gerber & Eisenberg, Chicago, IL, for Defendants-Appellees.

Before WOOD, Jr., CUDAHY, and KANNE, Circuit Judges.

Rehearing and Rehearing En Banc Denied May 27, 2003**.

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...

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