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AbbVie Inc. (ABBV)

NYSE:ABBV

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $500,000 In AbbVie Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in AbbVie Inc. (“AbbVie” or the “Company”) (NYSE:ABBV) of the November 20, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in AbbVie stock or options between October 25, 2013 and September 18, 2018 and would like to discuss your legal rights, please fill out the form  below.  There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased AbbVie securities between October 25, 2013 and September 18, 2018 (the “Class Period”).  The case, Pippins v. AbbVie Inc. et al, No. 18-cv-08225 was filed on September 21, 2018.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (1) that the Company relied on kickbacks and illegal marketing tactics to increase the sales growth of HUMIRA, the Company’s blockbuster drug for the treatment of arthritis, plaque psoriasis, ankylosing spondylitis, Crohn's disease, and ulcerative colitis; and (2) that such practices would lead to heightened scrutiny by State governments and agencies.

Specifically, on September 18, 2018, Bloomberg published an article entitled, “California Sues AbbVie Over Alleged Arthritis Drug Kickbacks,” asserting the State of California filed a lawsuit against AbbVie for engaging in a kickback scheme aimed to boost HUMIRA sales.

On this news, AbbVie stock fell from $95.37 per share on September 17, 2018 to $91.02 on September 19, 2018—a $4.35 or 4.56% drop.

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  • Case:
    AbbVie Inc. (ABBV)
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 09/24/2018

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