December 5, 2014 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of AbbVie Inc (NYSE:ABBV) shares was announced over potential breaches of fiduciary duties by certain officers and directors at AbbVie.

The investgiation focuses on whether certain officer or directors of AbbVie Inc breached their fiduciary duties owed to NYSE:ABBV stockholder in connection with non-tax benefits behind previosly proposed $55 billion merger.

On June 20, 2014: AbbVie Inc noted the press speculation and confirmed it made an indicative approach to Shire plc (with a merger proposal which was rejected by the Board of Shire. AbbVie Inc said that the discussions are no longer ongoing.

Then on June 25, 2014, AbbVie Inc disclosed its proposal to the Board of Shire of 20.44 in cash and 0.7988 ordinary shares of New AbbVie for each Shire share.

On July 8, 2014, AbbVie Inc disclosed its revised proposal of 22.44 in cash and 0.8568 ordinary shares of New AbbVie for each Shire share.

On July 18, 2014, AbbVie Inc and Shile PLC announced that they have reached an agreement to combine Shire and AbbVie Inc. Under the terms of the Merger, Shire Shareholders were entitled to receive for each Shire Share: 24.44 in cash and 0.8960 New AbbVie shares.

Then on October 20, 2104, AbbVie Inc. and Shire plc have agreed to terminate their proposed merger following the decision by AbbVies Board to withdraw support for the proposed transaction.

AbbVie Inc reported that its annual Total Revenue rose from $18.38 billion in 2012 to $18.79 billion in 2013, while its respective Net Income declined from over $5.27 billion to over $4.18 billion. Shares of AbbVie Inc (NYSE:ABBV) grew from $33.85 per share in early 2013 to as high as $70.15 per share on December 5, 2014.