#United States #New York #Levi & Korsinsky #Securities Fraud #Cerevel Therapeutics

Important Notice for Cerevel Investors

Levi & Korsinsky, LLP, a well-regarded law firm, has made headlines by notifying investors in Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV) about a pivotal class-action securities lawsuit. This case is particularly relevant for those who invested in Cerevel between October 11, 2023, and August 1, 2024, as it seeks to recover losses incurred due to alleged securities fraud. It represents a significant step for investors who may feel misled or financially affected by the company's actions within this timeframe.

Background of the Lawsuit

The class definition for this lawsuit outlines that it serves to protect all entities that sold or otherwise disposed of publicly-traded common stock of Cerevel during the specified period. This also includes those who held shares as of January 8, 2024, when they were entitled to vote on a merger between Cerevel and AbbVie Inc., as well as those who sold shares in conjunction with Bain Capital's purchase around October 16, 2023.

The basis for the class-action stems from complaints asserting that Cerevel’s secondary stock offering documents and other public statements neglected to disclose critical information regarding AbbVie’s substantial interest in acquiring Cerevel at a price significantly higher than the $22.81 per share offering price. This lack of disclosure is alleged to have artificially suppressed Cerevel's stock price until the merger announcement.

Furthermore, it is claimed that Bain Capital, Cerevel's controlling shareholder, purchased shares during the October offering while privy to nonpublic information regarding AbbVie’s impending interest, thus profiting greatly once the acquisition was publicly announced.

Financial Implications

On December 6, 2023, Cerevel revealed that AbbVie would acquire it for $45 per share. This transaction allowed Bain Capital to secure a significant financial windfall exceeding $120 million, merely by acquiring shares at an artificially depressed price prior to the announcement. To make matters worse, the Proxy Statement issued by Cerevel on January 18, 2024, is said to have further misled investors regarding both the timing and nature of AbbVie's interest in the company.

Investors who sustained losses can still request that the Court appoint them as lead plaintiff. However, it’s crucial to note: participating as a lead plaintiff isn’t necessary to share in any potential recovery.

No Costs for Class Members

The law firm underscores that for class members, engaging in this legal pursuit does not require any out-of-pocket expenses. If you are one of those affected, there is no financial obligation to participate, which affirms the accessibility of justice for investors with legitimate claims against the alleged misconduct.

Why Choose Levi & Korsinsky

Levi & Korsinsky has built a formidable reputation over the past 20 years, having secured hundreds of millions of dollars for shareholders through various high-stakes cases. They specialize in complex securities litigation and boast a skilled team of over 70 professionals dedicated to investor rights. Their consistent ranking on ISS Securities Class Action Services’ Top 50 Report speaks to the firm’s efficacy and reliability.

Time-Sensitive Action Required

For investors who suffered losses related to Cerevel Therapeutics, it is vital to act promptly. The deadline to submit your request as a lead plaintiff is June 3, 2025. Delaying may forfeit your right to partake in any financial recovery.

To further discuss this matter or find out if you're eligible, contact Joseph E. Levi, Esq. via email or phone at the firm. For more information, visit this link.

This ongoing legal situation highlights the commitment of firms like Levi & Korsinsky to uphold shareholder rights and the importance of transparency in financial reporting for all investors.