New York Attorney General Letitia James on May 21 delivered more than $13,500 worth of baby formula to Brooklyn families, marking the final installment of a settlement with Paragon USA & Co., LLC over price gouging during the 2022 nationwide formula shortage.
“Companies should never be able to raise prices and squeeze extra profits from struggling New Yorkers during a crisis,” said James.
The 2022 shortage followed a recall and shutdown at Abbott, which produces over 40% of U.S. infant formula. Prices surged nationwide, prompting James to issue warnings to more than 30 retailers in New York for excessive pricing…