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Case Status:    ONGOING    
On or around 04/23/2019 (Ongoing date of last review)

Filing Date: July 26, 2018

According to the Complaint, AbbVie Inc. ("AbbVie" or the "Company") is a global, research-based biopharmaceutical company.

The Complaint alleges that AbbVie and one of its officers violated the Securities Exchange Act of 1934 by issuing 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 that news, the price of AbbVie securities significantly increased. However, after the close of trading on May 30, 2018, the Company surprised the market by releasing 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. The price of the Company's shares fell sharply on the news, harming all investors that purchased AbbVie securities at artificially inflated prices on May 30, 2018.

On October 2, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on November 1.

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.
COURT: N.D. Illinois
DOCKET #: 18-CV-05114
JUDGE: Hon. Charles P. Kocoras
DATE FILED: 07/26/2018
CLASS PERIOD START: 05/20/2018
CLASS PERIOD END: 05/30/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Keller Lenkner LLC
    150 N. Riverside Plaza, Suite 2570, Keller Lenkner LLC, IL 60606
    312.741.5222 ·
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 18-CV-05114
JUDGE: Hon. Charles P. Kocoras
DATE FILED: 11/01/2018
CLASS PERIOD START: 05/30/2018
CLASS PERIOD END: 05/30/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Keller Lenkner LLC
    150 N. Riverside Plaza, Suite 2570, Keller Lenkner LLC, IL 60606
    312.741.5222 ·
No Document Title Filing Date
—Related District Court Filings Data is not available