#USA #New York #Class Action #Gross Law Firm #Cerevel Therapeutics

Overview

The Gross Law Firm has issued a crucial notification for shareholders of Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV), concerning a class action lawsuit that is currently underway. Investors who acquired shares of Cerevel during a specific period are strongly urged to consider their legal options.

Class Period Details

This class action pertains to all individuals or entities who either:
1. Sold or disposed of Cerevel's publicly traded common stock between October 11, 2023, and August 1, 2024.
2. Held shares of Cerevel as of January 8, 2024, and were eligible to vote on the merger between Cerevel and AbbVie Inc.
3. Sold shares of Cerevel stock when Bain Capital conducted its purchase on or about October 16, 2023.

Allegations against Cerevel

The lawsuit arises from allegations that the offering documents related to Cerevel's stock issuance on October 16, 2023, omitted critical information regarding AbbVie's intentions to purchase Cerevel at a much higher price than the offered rate of $22.81 per share. Consequently, Cerevel's stock price was artificially deflated, only increasing to $45 per share after AbbVie announced its acquisition in December 2023. Allegedly, Bain Capital, which held shares from the October offering, obtained them at a falsely lowered price due to undisclosed information about AbbVie’s interest, profiting significantly from the deal.

Additionally, Cerevel's January 18, 2024, Proxy statement reportedly misled investors regarding the timing and nature of AbbVie’s proposal, leading to further scrutiny and concerns about transparency and accountability.

Registration for Class Action

Investors are advised to register for this class action without delay, as the deadline for potential lead plaintiffs is June 3, 2025. Once registered, participants will receive ongoing updates regarding the progress of the case through portfolio monitoring software. Importantly, participation in this action incurs no fees or obligations for investors.

Why Choose The Gross Law Firm?

The Gross Law Firm is a nationally recognized entity specializing in class action lawsuits. Their mission focuses on protecting the rights of investors who have suffered due to deceptive practices. The firm is dedicated to ensuring that corporations uphold their responsibilities and maintain good practices. They seek recoveries for investors affected by inaccurate information and manipulative actions.

Conclusion

For all those affected by Cerevel’s practices related to the stock offering and subsequent merger announcement, it’s imperative to take necessary actions promptly. The Gross Law Firm stands ready to assist investors in navigating this class action and pursuing justice for any financial harm incurred. For inquiries, interested parties can contact:

• - Email: info@grosslawfirm.com
• - Phone: (646) 453-8903
• - Address: The Gross Law Firm, 15 West 38th Street, 12th Floor, New York, NY 10018