Law Offices of Howard G. Smith announces an investigation on behalf of AbbVie Inc. (“AbbVie” or the “Company”) (NYSE: ABBV) investors concerning the Company’s possible violations of federal securities laws.
On April 4, 2024, AbbVie disclosed that its prior financial guidance excluded the impact of acquired In-Process Research and Development (“IPR&D”) and milestone expense. The Company also disclosed that its earnings for the first quarter of 2024 “are expected to include acquired IPR&D and milestones expense of $164 million on a pre-tax basis, representing an unfavorable impact of $0.08 to both GAAP diluted earnings per share and adjusted non-GAAP diluted earnings per share.”
On this news, AbbVie’s stock price fell $9.43, or 5.3%, to close at $167.90 per share on April 4, 2024, thereby injuring investors.
If you purchased AbbVie securities, have information or would like to learn more about these claims, or 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 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240412578742/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
