NEW YORK, Aug. 13, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of AbbVie Inc. ("AbbVie" or the "Company") (NYSE: ABBV). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether AbbVie and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 30, 2018, at approximately 8:00 am Eastern Standard Time, AbbVie announced preliminary results of a previously announced modified Dutch auction to repurchase the Company's securities (the "Dutch Tender Offer"), stating that a total of 75.7 million shares were tendered at or below the purchase price of $105 per share. Then, at approximately 4:45 pm on May 30, 2018, AbbVie announced "updated preliminary results" of the Dutch Tender Offer, stating that a total of 74.0M shares of AbbVie's common stock had been tendered and not properly withdrawn at or below the lower purchase price of $103 per share. On this news, AbbVie's share price fell $4.07, or 3.95%, to close at $98.94 on May 31, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP