| COMPANY |
AbbVie, Inc. |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
22-cv-01773 |
| JUDGE |
The Honorable Harry Daniel Leinenweber |
| CLASS PERIOD |
April 30, 2021 - August 31, 2021 |
| SECURITY TYPE |
Securities |
Case Background:
On April 6, 2022, an initial complaint was filed against AbbVie, Inc. (“AbbVie” or the “Company”) and certain of AbbVie’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. The class action lawsuit was filed on behalf of those who purchased or acquired AbbVie securities between April 30, 2021 and August 31, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, about the company’s business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, Defendants’ statements about the company’s business, operations, and prospects lacked a reasonable basis, As a result of the Defendants’ wrongful acts and omissions, and the significant decline in the market value of AbbVie’s securities, AbbVie investors have suffered significant damages.
Current Status of Case:
This action was voluntarily dismissed on February 16, 2023. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.