San Diego, CA -- (SBWIRE) -- 10/16/2018 -- Certain directors of AbbVie Inc. are under investigation over potential breaches of fiduciary duties.
Investors who are current long-term investors in AbbVie Inc. (NYSE: ABBV) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long-term investors in NYSE: ABBV stocks follows a lawsuit filed recently against AbbVie Inc. over alleged securities laws violations. The investigation on behalf of current long-term investors in NYSE: ABBV stocks, concerns whether certain AbbVie directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges that the defendants violated Federal Securities Laws.
Before the opening of trading on May 30, 2018, AbbVie Inc announced that it expected to acquire 71.4 million of its shares tendered at or below $105 per share.
As a result of that news, the price of AbbVie Inc. (NYSE: ABBV) securities significantly increased.
However, after the close of trading on May 30, 2018, AbbVie Inc. (NYSE: ABBV) surprised the market by releasing materially different results for the Tender Offer due to certain omissions, announcing that the Company expected to acquire only those shares tendered at or below $103 per share.
The plaintiff claims that the price of the Company's shares fell sharply on the news, harming all investors that purchased AbbVie securities at artificially inflated prices on May 30, 2018.
Those who purchased shares of AbbVie Inc. (NYSE: ABBV) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.