The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of Illinois on behalf of shareholders of AbbVie Inc. who purchased shares between April 30, 2021 and August 31, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(1) safety concerns about Pfizer Inc.’s drug Xeljanz extended to Abbvie’s drug Rinvoq and to other Janus kinase enzyme inhibitor drugs; (2) as a result, it was likely that the U.S. Food and Drug Administration 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 6, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.