NEW YORK, April 19, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of AbbVie Inc. (“AbbVie” or the “Company”) (NYSE: ABBV). Such investors are advised to contact Robert S. Willoughby at
[email protected]
or 888-476-6529, ext. 7980.
The investigation concerns whether AbbVie and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On September 1, 2021, the United States Food and Drug Administration (“FDA”) announced that final results from the safety trial of Xeljanz, an anti-inflammatory drug manufactured Pfizer Inc., established an increased risk of serious adverse events, even with low doses of Xeljanz. As a result, the FDA determined that it would require new and updated warnings for Xeljanz and Rinvoq, an anti-inflammatory drug manufactured by AbbVie, because Rinvoq “share[s] similar mechanisms of action with Xeljanz” and “may have similar risks as seen in the Xeljanz safety trial.” The FDA also indicated that it would further limit approved indications for Rinvoq as a result of these safety concerns.
On this news, AbbVie’s stock price fell $8.51 per share, or 7.04%, to close at $112.27 per share on September 1, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See
www.pomlaw.com
.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
