The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of AbbVie, Inc. (NYSE: ABBV) who purchased shares on May 30, 2018.
The complaint alleges that AbbVie issued false and misleading statements, in both press releases and filings with the U.S. Securities and Exchange Commission, regarding the results of the Company’s $7.5 billion modified Dutch auction tender offer that expired on May 29, 2018 (the “Tender Offer”). Specifically, the complaint alleges that before the opening of trading on May 30, 2018, the Company announced that it expected to acquire 71.4 million of its shares tendered at or below $105 per share. As a result of this news, the price of AbbVie securities significantly increased. However, after the close of trading on May 30, 2018, the Company released materially different results for the Tender Offer due to certain omissions, announcing that the Company expected to acquire only those shares tendered at or below $103 per share. Upon this news, AbbVie shares fell from a close of $103.01 per share on May 30, 2018, to a close of $98.94 on May 31, 2018.
If you suffered a loss in AbbVie you have until September 24, 2018 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.
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