NOTICE TO SHAREHOLDERS OF CEREVEL THERAPEUTICS HOLDINGS, INC.
NEW YORK, April 21, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV).
Shareholder Information
Shareholders who purchased shares of ABBV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
Securities Class Law Firm Submission Form
CLASS PERIOD:
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.
ALLEGATIONS:
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.
DEADLINE:
June 3, 2025 Shareholders should not delay in registering for this class action. Register your information here:
Securities Class Law Firm Submission Form
NEXT STEPS FOR SHAREHOLDERS:
Once you register as a shareholder who purchased shares of ABBV during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is June 3, 2025. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM?
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903
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