Pomerantz LLP is investigating claims on behalf of investors of AbbVie Inc. (“AbbVie” or the “Company”). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org 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Dutch Tender Offer, stating that a total of 74.0M shares of AbbVie’s common stock had been tendered and not properly withdrawn at or below the lower purchase price of $103 per share.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.