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AbbVie Inc.

Case Summary

AbbVie Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 09/01/2020 (Date of last review)

Filing Date: September 21, 2018

According to the Complaint, AbbVie Inc. ("AbbVie" or the "Company") discovers, develops, manufactures, and sells pharmaceutical products worldwide. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) AbbVie’s strategy to increase the sales growth of its blockbuster drug, HUMIRA, was through illegal kickbacks and unlawful sales and marketing tactics; (2) such practices would lead to heightened scrutiny by State governments and agencies; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on November 21, 2018. A related case continues in the Northern District of Illinois under Docket 18-CV-06790.

On May 13, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on July 22. Defendants filed a Motion to Dismiss the consolidated Complaint on September 20. On September 1, 2020, the Court issued an Order denying Defendants' Motion to Dismiss.

Company & Securities Information

Defendant: AbbVie Inc.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ABBV
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

David Pippins, et al. v. AbbVie Inc., et al.

COURT: C.D. California
DOCKET #: 18-CV-08225
JUDGE: Hon. Dale S. Fischer
DATE FILED: 09/21/2018
CLASS PERIOD START: 10/25/2013
CLASS PERIOD END: 09/18/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violations of the Federal Securities Laws 09/21/2018
2 Notice of Voluntary Dismissal 11/21/2018
3 U.S. District Court Civil Docket 11/26/2018

Reference Complaint

Metzler Asset Management GmbH, et al. v. AbbVie Inc., et al.

COURT: N.D. Illinois
DOCKET #: 18-CV-06790
JUDGE: Hon. Dale S. Fischer
DATE FILED: 07/22/2019
CLASS PERIOD START: 10/25/2013
CLASS PERIOD END: 09/18/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cafferty Clobes Meriwether & Sprengel LLP
  2. Motley Rice LLC (Mount Pleasant)
  3. Robbins Geller Rudman & Dowd LLP (San Diego)
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 10/09/2018
2 Order 05/13/2019
3 Consolidated Class Action Complaint for Violations of the Federal Securities Laws 07/22/2019
4 Settlement and Release Agreement 08/14/2020
5 U.S. District Court Civil Docket 09/01/2020
6 Order 09/01/2020
7 Order 09/01/2020

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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