SAN FRANCISCO, April 08, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges AbbVie Inc.
(NYSE: ABBV)
investors who suffered significant losses to
submit your losses now
. A securities fraud class action has been filed and investors with significant losses have the opportunity to lead the case.
Class Period:
Apr. 30, 2021 – Aug. 31, 2021
Lead Plaintiff Deadline:
June 6, 2022
Visit:
www.hbsslaw.com/investor-fraud/ABBV
Contact An Attorney Now:
[email protected]
844-916-0895
AbbVie Inc. (ABBV) Securities Fraud Class Action:
The lawsuit focuses on AbbVie’s statements about the safety profile of Rinvoq, a drug intended to treat rheumatoid arthritis and other diseases by inhibiting Janus kinase (“JAK”) enzymes, and its assurances that Rinvoq was far safer than Pfizer’s competing drug (Xeljanz) which also used the JAK mechanism.
The complaint alleges that Defendants downplayed the likelihood that the FDA would take regulatory action against Rinvoq as a result of Xeljanz’s problematic safety profile and misrepresented or failed to disclose that (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors, and (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay additional treatment indications for it.
But, on June 25, 2021, AbbVie revealed the FDA was delaying its review of expanded treatment applications for Rinvoq due to safety concerns associated with Xeljanz.
Then, on Sept. 1, 2021, the FDA announced that it would require new and updated warnings for both Xeljanz and Rinvoq because Rinvoq “share[s] similar mechanisms of action with Xeljanz” and “may have similar risks as seen in the Xeljanz safety trial” and it would further limit approved indications for Rinvoq as a result of the safety concerns.
These events drove the price of AbbVie shares sharply lower.
“We’re focused on investors’ losses and proving AbbVie intentionally misrepresented Rinvoq’s safety profile,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in AbbVie and have significant losses, or have knowledge that may assist the firm’s investigation,
click here to discuss your legal rights with Hagens Berman
.
Whistleblowers:
Persons with non-public information regarding AbbVie should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at
844-916-0895
or email
[email protected]
.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at
hbsslaw.com
. Follow the firm for updates and news at
@ClassActionLaw
.
Contact:
Reed Kathrein, 844-916-0895
