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AbbVie Inc. (NYSE: ABBV) Investor Securities Class Action Lawsuit 07/26/2018

  • If you purchased shares of AbbVie Inc. (NYSE: ABBV), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
AbbVie Inc
Security
NYSE: ABBV

Case Name
AbbVie Shareholder Class Action Lawsuit 07/26/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of Illinois

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

July 14, 2020 - The case was dismissed.
October 18, 2019 - A notice appealing the court's dismissal was filed.

September 18, 2019 - The court granted the defendants' motion to dismiss.

November 27, 2018 - A motion to dismiss the amended complaint was filed.

November 1, 2018 - An amended complaint was filed.

July 26, 2018 - An investor in shares of AbbVie Inc. (NYSE: ABBV) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by AbbVie Inc. in connection with certain allegedly false and misleading statements made on May 30, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of AbbVie Inc. ( AbbVie or the Company ) (NYSE:ABBV) securities on May 30, 2018 , that the defendants violated Federal Securities Laws.

Before the opening of trading on May 30, 2018, AbbVie Inc announced that it expected to acquire 71.4 million of its shares tendered at or below $105 per share.

As a result of that news, the price of AbbVie Inc. (NYSE: ABBV) securities significantly increased.

However, after the close of trading on May 30, 2018, AbbVie Inc. (NYSE: ABBV) surprised the market by releasing materially different results for the Tender Offer due to certain omissions, announcing that the Company expected to acquire only those shares tendered at or below $103 per share.

The plaintiff claims that the price of the Company's shares fell sharply on the news, harming all investors that purchased AbbVie securities at artificially inflated prices on May 30, 2018.