NEW YORK, April 25, 2025 /PRNewswire/
Levi & Korsinsky, LLP notifies investors in Cerevel Therapeutics Holdings, Inc. ("Cerevel Therapeutics Holdings, Inc." or the "Company") (NYSE: ABBV) of a class action securities lawsuit.
CLASS DEFINITION:
The lawsuit seeks to recover losses on behalf of Cerevel Therapeutics Holdings, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of all persons or entities that:
- (a) sold or otherwise disposed of the publicly-traded common stock of Cerevel during the period from October 11, 2023 through August 1, 2024, inclusive.
- (b) held shares of Cerevel as of the January 8, 2024 record date and were entitled to vote on the merger of Cerevel and AbbVie Inc.
- (c) sold shares of Cerevel stock contemporaneously with Bain Capital's purchase of shares on or about October 16, 2023.
Follow the link below to get more information and be contacted by a member of our team:
Cerevel Therapeutics Lawsuit Submission Form
ABBV investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS:
According to the complaint, Cerevel's October 16, 2023 secondary stock offering (the "October Offering" or "Offering") documents and other public statements omitted material facts regarding AbbVie's interest in acquiring Cerevel at a price well in excess of the $22.81 per share Offering price, artificially deflating Cerevel's stock price until the merger was announced. Moreover, Cerevel's controlling shareholder, Bain Capital Investors, LLC ("Bain"), acquired Cerevel shares from the October Offering at an artificially depressed price while allegedly in possession of material nonpublic information regarding AbbVie's interest. On December 6, 2023, Cerevel publicly announced that AbbVie agreed to acquire Cerevel for $45 per share. The merger allowed Bain to receive a windfall of more than $120 million on the shares it acquired at the artificially depressed Offering price. In addition, Cerevel's January 18, 2024 Proxy statement misled investors regarding the true nature and timing of AbbVie's interest in Cerevel.
WHAT'S NEXT?
If you suffered a loss in Cerevel Therapeutics Holdings, Inc. during the relevant time frame, you have until June 3, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU:
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY:
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
