Abbott under investigation by SEC and FTC for infant formula business

An Abbott spokesperson told ABC News they are "cooperating with the government investigations."ABC News has also reached out to the SEC for comment and have not yet heard back.bacteria inside Abbott's Sturgis plant prompted a massive voluntary formula recall last February, after four babies who had consumed Abbott's formula contracted a Cronobacter infection.

After inspecting Abbott's Sturgis facility last year, FDA chief Dr. Robert Califf described the "shocking" and "egregiously unsanitary conditions" investigators had found. Abbott's recall ricocheted across American groceries and families' pantries, exacerbating an already mounting supply issue, and forcing families to scramble for what their babies needed for months.

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