#USA #New York #Levi Korsinsky #Cerevel Therapeutics #ABBV

Update on Cerevel Therapeutics Holdings, Inc. Lawsuit

In an important advisory, Levi & Korsinsky, LLP has notified investors pertaining to a class action securities lawsuit regarding Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV). This lawsuit highlights potential investor losses stemming from alleged securities fraud affecting shareholders who sold their common stock from October 11, 2023, to August 1, 2024.

Class Definition

The lawsuit is being pursued on behalf of individuals and entities that:
1. Sold or otherwise disposed of Cerevel's publicly traded common stock during the stated period.
2. Held shares on January 8, 2024, the record date prior to a significant merger.
3. Sold shares contemporaneously with Bain Capital's acquisition on October 16, 2023.

Such investors may suffer considerable financial losses, exacerbated by the surrounding circumstances regarding Cerevel's business operations and securities offerings.

Case Background

The core of the allegations centers on Cerevel’s secondary stock offering from October 16, 2023, which is believed to have had misleading documents that failed to disclose vital information regarding AbbVie’s interests in acquiring the company—a price significantly higher than the offer price of $22.81 per share.

It is alleged that Bain Capital, Cerevel's controlling shareholder, purchased shares during this underwater offering while seemingly privy to confidential information about the acquisition. Subsequently, on December 6, 2023, Cerevel announced a purchase agreement with AbbVie at a striking $45 per share, allowing Bain Capital to realize a profit exceeding $120 million on its holdings acquired at the undervalued offering price.

Furthermore, information disseminated in Cerevel's January 18, 2024 Proxy statement reportedly obscured the actual motivations and timings surrounding AbbVie’s interest.

What Investors Should Do

Affected shareholders are urged to act quickly as the deadline to apply for the lead plaintiff role is June 3, 2025. However, it is important to note that individuals do not need to be lead plaintiffs in order to share in potential recoveries from this lawsuit.

No Financial Burden for Participants

Participating in this class action does not entail any fees or costs upfront for class members. The legal services provided by Levi & Korsinsky come at no additional expense to those affected, whereby eligible investors can pursue compensation if successful.

Contacts

For those who believe they qualify or hold inquiries about their options, direct communication with Levi & Korsinsky is encouraged. Interested parties can reach Joseph E. Levi, Esq. at [email protected] or via phone at (212) 363-7500.

Why Choose Levi & Korsinsky?

Renowned for its track record in securities litigation, Levi & Korsinsky has secured substantial recoveries for shareholders over the past two decades. With more than 70 dedicated professionals, the firm continuously ranks among the top organizations in complex securities cases.

For any ongoing updates, further information can be accessed through the firm’s website, or follow their provided link for the specific lawsuit here. The pursuit of justice in the financial realm is not only encouraged but reinforced by the proactive engagement of firms like Levi & Korsinsky, demonstrating a commitment to protecting investor rights.