Trending...
- Cold. Clean. Anywhere. Meet FrostSkin
- Apostle Margelee Hylton Announces the Release of Third Day Prayer
- Atlanta Magazine Names Dr. Rashad Richey One of Atlanta's Most Influential Leaders in 2026 as the FIFA World Cup Approaches
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming June 6, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased AbbVie Inc. ("AbbVie" or the "Company") (NYSE: ABBV) securities between April 30, 2021 and August 31, 2021, inclusive (the "Class Period").
Investors suffering losses on their AbbVie investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
AbbVie's Janus kinase ("JAK") inhibitor drug, Rinvoq, has been approved by the U.S. Food and Drug Administration ("FDA") for the treatment of moderate to severe rheumatoid arthritis ("RA"). In 2020, AbbVie sought regulatory approval to expand the indications for Rinvoq.
On June 25, 2021, AbbVie disclosed that the FDA would not complete its review of several of the expanded treatment indications for Rinvoq within the previously-announced timeframe due to its ongoing evaluation of safety concerns associated with other JAK inhibitor drugs.
More on The PennZone
On this news, AbbVie's common stock fell $1.76, or 1.5%, to close at $112.98 per share on June 25, 2021, thereby injuring investors.
Then, on September 1, 2021, the FDA announced that the safety trials for another JAK inhibitor drug, Xeljanz, had established an increased risk of serious adverse events, even with low doses, and determined that new and updated warnings would be required for those drugs as well as for Rinvoq, as it shares "similar mechanisms of action" and "may have similar risks." The FDA also disclosed that it would further limit approved indications for Rinvoq as a result of safety concerns.
On this news, AbbVie's common stock fell $8.51, or 7%, to close at $112.27 per share on September 1, 2021, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
More on The PennZone
If you purchased or otherwise acquired AbbVie securities during the Class Period, you may move the Court no later than June 6, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Investors suffering losses on their AbbVie investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
AbbVie's Janus kinase ("JAK") inhibitor drug, Rinvoq, has been approved by the U.S. Food and Drug Administration ("FDA") for the treatment of moderate to severe rheumatoid arthritis ("RA"). In 2020, AbbVie sought regulatory approval to expand the indications for Rinvoq.
On June 25, 2021, AbbVie disclosed that the FDA would not complete its review of several of the expanded treatment indications for Rinvoq within the previously-announced timeframe due to its ongoing evaluation of safety concerns associated with other JAK inhibitor drugs.
More on The PennZone
- Off The Hook YS (NY SE: OTH) Executes Transformational Apex Acquisition, Creating Vertically Integrated Marine Powerhouse with $60M Inventory Capacity
- Tri-State Area Entrepreneur Launches K-Chris: A Premium Digital Destination for Luxury Fragrances
- Why One American Manufacturer Builds BBQ Smokers to Aerospace Standards
- Diversified Roofing Solutions Strengthens Industry Leadership With Expanded Roofing Services Across South Florida
- ZRCalc™ Cinema Card Calculator Now Available for Nikon ZR Shooters
On this news, AbbVie's common stock fell $1.76, or 1.5%, to close at $112.98 per share on June 25, 2021, thereby injuring investors.
Then, on September 1, 2021, the FDA announced that the safety trials for another JAK inhibitor drug, Xeljanz, had established an increased risk of serious adverse events, even with low doses, and determined that new and updated warnings would be required for those drugs as well as for Rinvoq, as it shares "similar mechanisms of action" and "may have similar risks." The FDA also disclosed that it would further limit approved indications for Rinvoq as a result of safety concerns.
On this news, AbbVie's common stock fell $8.51, or 7%, to close at $112.27 per share on September 1, 2021, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
More on The PennZone
- Revolutionary Data Solution Transforms Health Insurance Underwriting Accuracy
- $36 Million LOI to Acquire High Value Assets from Vivakor Inc in Oklahoma's STACK Play — Building Cash Flow and Scalable Power Infrastructure; $OLOX
- Kobie Wins for AI Innovations in the 2026 Stevie® Awards for Sales & Customer Service
- Author Jeff Bogle to Host Street Cats Mediterranean Cruise Featuring Cat Behaviorist Molly DeVoss
- Berman | Sobin | Gross LLP Celebrates 35 Years of Advocating for Maryland's Injured Workers and Families
If you purchased or otherwise acquired AbbVie securities during the Class Period, you may move the Court no later than June 6, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- How Specialized Game Development Services Are Powering the Next Wave of Interactive Entertainment
- Brain Drain Unlimited Strengthens Legal Advocacy with Advanced Training from Villanova University
- Don't Settle for a Lawyer Who Just Speaks Spanish. Demand One Who Understands Your Story
- Dan Williams Promoted to Century Fasteners Corp. – General Manager, Operations
- Ski Johnson Inks Strategic Deals with Three Major Food Chain Brands
- NIL Club Advances Agent-Free NIL Model as Oversight Intensifies Across College Athletics
- Pallet Company Partners with Internet Marketing Company
- Atlanta Magazine Names Dr. Rashad Richey One of Atlanta's Most Influential Leaders in 2026 as the FIFA World Cup Approaches
- Apostle Margelee Hylton Announces the Release of Third Day Prayer
- Slotozilla Reports Strong Q4 Growth and Sigma Rome Success
- "Lights Off" and Laughs On: Joseph Neibich Twists Horror Tropes in Hilariously Demonic Fashion
- Families Gain Clarity: Postmortem Pathology Expands Private Autopsy Services in St. Louis
- Beethoven: Music of Revolution and Triumph - Eroica
- Don't Get Burned by High Heater Prices in Philly This Winter!
- Amy Turner Receives 2025 ENPY Partnership Builder Award from The Community Foundation
- Hubble Tension Solved? Study finds evidence of an 'Invisible Bias' in How We Measure the Universe
- Boonuspart.ee Acquires Kasiino-boonus.ee to Strengthen Its Position in the Estonian iGaming Market
- Vines of Napa Launches Partnership Program to Bolster Local Tourism and Economic Growth
- Finland's €1.3 Billion Digital Gambling Market Faces Regulatory Tug-of-War as Player Protection Debate Intensifies
- Angels Of Dirt Premieres on Youtube, Announces Paige Keck Helmet Sponsorship for 2026 Season