Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased AbbVie Inc. (AbbVie or the Company) (NYSE: ABBV) securities between October 25, 2013 and September 18, 2018, inclusive (the Class Period). AbbVie investors have until November 20, 2018 to file a lead plaintiff motion.
Investors that suffered losses on their AbbVie investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On September 18, 2018, California insurance regulators announced that they were suing AbbVie, alleging that the Company provided illegal kickbacks to health care providers while promoting Humira. On this news, AbbVies share price fell $2.76 per share, or almost 3%, to close at $92.61 per share on September 18, 2018, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the Class Period, Defendants made materially 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.
If you purchased shares of AbbVie during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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