Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired AbbVie, Inc. (“AbbVie”) (NYSE: ABBV) securities between April 30, 2021 and August 31, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, 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 at all relevant times.
Current Status of Case:
On February 16, 2023, Plaintiff filed a Notice of Voluntary Dismissal, and the Court dismissed the case on January 30, 2024. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.