#United States #New York #Bain Capital #AbbVie #Cerevel Therapeutics

Class Action Lawsuit Filed Against Cerevel Therapeutics Holdings

A recent class action lawsuit has been initiated against Cerevel Therapeutics Holdings, Inc. (NYSE: ABBV) aimed at helping investors recover their losses. The lawsuit has emerged as a result of allegations related to the company's October 2023 secondary stock offering, which is rumored to have concealed critical information regarding AbbVie’s interest in acquiring the firm.

Background of the Case

The Gross Law Firm has stepped in as the legal representation for shareholders who purchased shares of Cerevel during a specified period. According to the complaint, Cerevel’s stock offering documents were alleged to have omitted significant details surrounding AbbVie's plans to acquire Cerevel at a price notably exceeding the offering price of $22.81 per share. It is claimed that this omission led to an artificially deflated stock price that persisted until the merger was publicly announced.

Cerevel's controlling shareholder, Bain Capital, is accused of acquiring shares from the October offering while allegedly privy to this inside information. Following the announcement that AbbVie would buy Cerevel for $45 per share on December 6, 2023, Bain Capital reportedly made a substantial profit exceeding $120 million from these shares due to the artificially low purchase price.

Key Allegations

The pressing allegations include:

• - Misleading Public Statements: Cerevel's public disclosures before the merger may have downplayed AbbVie's real interest in acquiring the company.
• - Insider Trading: Bain Capital's transactions raised suspicions of insider trading, as they were purportedly aware of the impending acquisition deal.
• - Investor Manipulation: The information gap potentially misled investors, impacting their trading decisions and resulting in financial losses.

Legal Framework and Obligations

The lawsuit encompasses individuals who either sold or held Cerevel stock during the designated timeframe spanning October 11, 2023, to August 1, 2024. Importantly, it includes those who were eligible to vote on the merger by virtue of holding shares as of the January 8, 2024 record date.

Shareholders affected by these actions are encouraged to contact The Gross Law Firm to register for the class action. Importantly, it is noted that becoming a lead plaintiff is not mandatory to participate in recovery from the lawsuit.

Next Steps for Involved Investors

Registration and Deadlines

Investors who fall under the category of affected shareholders must promptly register for the class action lawsuit as the deadline for seeking lead plaintiff status is upcoming on June 3, 2025. Those interested should submit their information through The Gross Law Firm’s designated link. Once registered, they will benefit from being enrolled in a portfolio monitoring service that will keep them informed throughout the legal proceedings.

The Gross Law Firm’s Commitment

The Gross Law Firm is regarded as a respected class action law firm in the industry, advocating for investors harmed by deceptive business practices. Their mission centers around ensuring companies operate responsibly and that investors recover their losses due to misleading information or omissions. The firm strives to uphold corporate accountability while protecting the rights of shareholders.

For further inquiries, investors can contact The Gross Law Firm at their New York office.

Note: Participation in this case does not come with any financial obligation or cost to the registered shareholders.

Contact Information:

• - Address: The Gross Law Firm, 15 West 38th Street, 12th floor, New York, NY 10018
• - Email: [email protected]
• - Phone: (646) 453-8903