#USA #New York #Gross Law Firm #Abbott #Cerevel Therapeutics

The Gross Law Firm's Notice to Cerevel Therapeutics Shareholders

The Gross Law Firm has recently alerted investors of Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV) regarding an impending class action lawsuit. Shareholders who purchased shares during a specific class period are encouraged to reach out to the firm for further information.

Class Period Details

The lawsuit pertains to individuals or entities that either:
1. Sold or disposed of Cerevel's publicly-traded common stock from October 11, 2023, to August 1, 2024.
2. Held shares as of January 8, 2024, which entitles them to vote on the merger with AbbVie Inc.
3. Sold shares concurrently with Bain Capital's acquisition on or around October 16, 2023.

Allegations Raised

According to the complaint, it appears that Cerevel’s October 16, 2023 secondary stock offering did not disclose material facts related to AbbVie's significant interest in acquiring Cerevel at a price substantially higher than the offering price of $22.81 per share. This omission allegedly deflated the stock price artificially, resulting in potential losses for investors.

Furthermore, Bain Capital, which holds a controlling stake in Cerevel, is accused of purchasing shares during the offering while possessing critical non-public information about AbbVie's intention to acquire Cerevel. When the acquisition was announced on December 6, 2023, AbbVie had agreed to purchase shares at $45 each, leading Bain Capital to reap substantial profits from its earlier investment. The information discrepancy extends to Cerevel's January 18, 2024 Proxy statement, which allegedly misled investors about AbbVie’s timing and nature of interest in the company.

Important Deadlines for Shareholders

The deadline for shareholders to register for this class action and seek lead plaintiff status is set for June 3, 2025. Interested shareholders are encouraged to register and stay informed about the lawsuit's progress, as participating does not require any upfront fees.

Next Steps for Interested Participants

Upon registration, shareholders will gain access to a portfolio monitoring system, which provides ongoing updates concerning the case's developments. This is a critical period for those affected to ensure they are recognized as party to the lawsuit, potentially aiding in recovery if the case leads to favorable outcomes.

Company Background

The Gross Law Firm is well-regarded across the nation for its dedication to representing investors in class action suits involving corporate malfeasance. Their commitment is to safeguard the rights of those who have suffered financial losses due to business fraud and misleading practices.

For those impacted by this potential misinformation or possible deceit during the Cerevel acquisition process, the Gross Law Firm aims to uphold responsibility and promote fair business practices among companies throughout the industry.