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Cerevel Therapeutics Holdings Inc. Class Action Lawsuit: Key Information for Shareholders

As recent developments unfold in the Cerevel Therapeutics Holdings, Inc. case, affected shareholders must understand the implications of an ongoing class action lawsuit that impacts their interests significantly. The Gross Law Firm has released crucial details for shareholders who purchased shares of Cerevel Therapeutics, listed on the NYSE under the symbol ABBV. This lawsuit centers on transactions conducted during a specified time frame, indicating potential losses and a significant opportunity for affected parties to gain compensation.

Overview of the Class Action Lawsuit

The Gross Law Firm has reached out to shareholders of Cerevel Therapeutics Holdings, Inc. to inform them of important class action lawsuit details. The lawsuit encompasses individuals who sold or transferred their publicly traded shares of Cerevel during the class period from October 11, 2023, through August 1, 2024. Notably, it includes those who held shares as of January 8, 2024, the date when shareholders voted on the merger with AbbVie Inc. Additionally, it covers shareholders who sold Cerevel shares in conjunction with Bain Capital's acquisition of shares on approximately October 16, 2023.

Allegations Against Cerevel

The crux of the lawsuit rests on serious allegations regarding Cerevel's misconduct. Legal documents suggest that the company's secondary stock offering on October 16, 2023, contained omissions of vital data pertaining to AbbVie's acquisition interest, which allegedly led to an artificial deflation of Cerevel's stock price until the merger was formally announced. Furthermore, evidence indicates that Bain Capital, Cerevel's major shareholder, procured shares at an artificially lowered price while being privy to pertinent nonpublic information about AbbVie's intentions.

In a significant turn of events, on December 6, 2023, Cerevel revealed a merger agreement with AbbVie at $45 per share, a stark contrast to the $22.81 per share price during the October offering. This merger resulted in Bain Capital garnering over $120 million in profits from shares acquired at that reduced price range.

Registration Information for Shareholders

Shareholders who believe they qualify for participation in this class action must act swiftly. The deadline for registration is set for June 3, 2025. Those who register will automatically enroll in a status monitoring platform, receiving updates on the lawsuit's progress. It’s important to note that registering does not require participants to become lead plaintiffs, which is an option but not a necessity for claiming recovery.

To ensure your eligibility, shareholders are encouraged to register their information through the following link: Cerevel Therapeutics Loss Submission Form.

Why the Gross Law Firm?

The Gross Law Firm is a leading class-action law firm with a strong history of advocating for investors who have faced financial detriment due to manipulation and misrepresentation in business practices. The firm aims to promote ethical conduct in the corporate world and uphold investors' rights diligently. By participating in this class action, shareholders stand a chance to recover losses incurred due to Cerevel's alleged deceitful actions.

If you have further questions or require assistance, please reach out to the Gross Law Firm directly via phone at (646) 453-8903 or explore their official website for more resources and updates.

In conclusion, as a shareholder in Cerevel Therapeutics, it is essential to remain informed and proactive regarding your rights and potential compensation avenues as this class action progresses. Don’t miss the opportunity to register before the approaching deadline!