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.
Industry: Major Drugs
Headquarters: United States
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.