#United States #New York #Class Action #Levi & Korsinsky #Cerevel Therapeutics

Cerevel Therapeutics Holdings, Inc.: A Call to Affected Investors

Investors of Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV) who have experienced financial losses are urged to take action as a class action securities lawsuit has been announced by Levi & Korsinsky, LLP. This legal development comes as a response to claims of alleged securities fraud that have negatively impacted shareholders during specific periods.

Class Action Details

The class action is designed to gather and represent individuals or entities that either sold or otherwise disposed of stocks during a critical time frame from October 11, 2023, to August 1, 2024. Additionally, it includes those who held shares on the January 8, 2024 record date and had the right to vote on the merger between Cerevel and another major player, AbbVie Inc. This situation involves accusations of material misrepresentation regarding the company's internal dealings and its stock offerings.

Material Allegations

Central to the complaint is the assertion that important information about AbbVie’s intentions to acquire Cerevel was not disclosed adequately, which allegedly misled investors regarding the true value of their investments. The allegations state that the October 16, 2023 secondary stock offering was flawed because it did not reveal that AbbVie was prepared to acquire Cerevel at a significantly higher price than the public offering of $22.81 per share.

The implications of these actions are considerable, especially for major stakeholders like Bain Capital Investors, LLC, who are accused of purchasing shares at inflated prices while already knowing about AbbVie’s interest in a much higher acquisition price of $45 per share, announced later on December 6, 2023. Hence, Bain Capital reportedly gained extraordinary profits from their investments while everyday shareholders were left uninformed.

Next Steps for Affected Investors

For individuals who believe they qualify as class members due to their involvement with Cerevel, the window to act is limited. Affected investors have until June 3, 2025, to formally request to be appointed as lead plaintiffs in this case. It is important to note that participation in the class action does not hinge on being appointed a lead plaintiff; all class members are eligible for potential financial recovery.

No Financial Obligations

Those impacted by the alleged securities fraud will not incur any financial costs to join the class action. Levi & Korsinsky emphasizes that there is no obligation for individuals to pay out-of-pocket costs, and class membership entails no upfront fees or expenses.

Why Levi & Korsinsky?

Levi & Korsinsky has a robust reputation, having successfully secured hundreds of millions of dollars for aggrieved shareholders over the past two decades. The firm has consistently ranked among the top securities litigation firms in the United States, ensuring that investors receive knowledgeable counsel and diligent representation in complex securities cases.

Contact Information

Investors wishing to know more or to get involved should reach out to Levi & Korsinsky directly:

• - Joseph E. Levi, Esq.
• - Email: [email protected]
• - Phone: (212) 363-7500
• - Address: 33 Whitehall Street, 17th Floor, New York, NY 10004

For further details and to submit claims, investors can access the official Levi & Korsinsky website at zlk.com.

In conclusion, the ongoing developments surrounding Cerevel Therapeutics Holdings, Inc. serve as a poignant reminder of the importance of transparency and honest communication in the investment landscape. Affected shareholders should act swiftly and seek to protect their rights and interests during this crucial period.