Motley Rice, LLC Announces Class Action in the AbbVie Inc. Securities Litigation

MOUNT PLEASANT, S.C., May 16, 2022 /PRNewswire/ --

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS

You could be affected by a class action lawsuit against AbbVie Inc. ("AbbVie") and Individual Defendants Richard A. Gonzalez and William J. Chase (collectively, "Defendants"). The Court, which authorized this notice, is allowing the case to proceed as a class action on behalf of a "Class" and has appointed attorneys as "Class Counsel." The Court has not decided that Defendants did anything wrong. Defendants have not been ordered to pay any money. No settlement has been reached. There is no money available now and no guarantee that there will be any recovery in the future.

What is this case about?
The lawsuit alleges that Defendants knowingly made false and misleading statements about AbbVie's compliance with applicable laws, regulations, and its own code of business conduct in the marketing and sale of its flagship drug, Humira, in violation of the Securities Exchange Act of 1934. Defendants deny any wrongdoing in this lawsuit and believe that the claims are without merit.

Are you included?
You are a potential "Class Member" only if you purchased or otherwise acquired shares of the publicly-traded common stock of AbbVie during the period of October 25, 2013 through September 18, 2018, inclusive. Excluded from the Class are AbbVie and the Individual Defendants; members of the immediate families of the Individual Defendants; AbbVie's subsidiaries and affiliates; any person who is or was an officer or director of AbbVie or any of its subsidiaries during the Class Period; any entity in which any Defendant has a controlling interest; and the legal representatives, heirs, successors, and assigns of any such excluded person or entity. Also excluded from the Class is any person or entity that timely and validly requests exclusion from the Class in response to this notice. In addition, Defendants have the right to move to decertify the Class, in whole or in part, or to seek the exclusion of certain entities or individuals from the Class at a later date.

What are your options?
If you want to stay in the Class you do not have to do anything now. If you do nothing, you will stay in the Class, be bound by the Court's orders, and will lose any right to sue Defendants separately regarding the factual circumstances and claims in this case. If you do not want to be a Class Member and be bound by what the Court does in this matter, and if you want to keep your rights to sue Defendants, you need to ask to be excluded from the Class. To be excluded, you must send a letter to AbbVie Inc. Securities Litigation, ATTN: EXCLUSIONS, c/o A.B. Data, Ltd., P.O. Box 173001, Milwaukee, WI 53217 and you must include certain information as set forth in the long form notice available at the website listed below. If you choose to exclude yourself you cannot receive any money or benefits recovered in this case if any are awarded at a later date. The deadline to exclude yourself is August 10, 2022.

Where to get more information?
This notice is only a summary. For more information visit www.abbviesecuritieslitigation.com or call 877-316-0169.

SOURCE Motley Rice LLC