LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of AbbVie Inc. (“AbbVie” or “the Company”) (NYSE: ABBV) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. California’s insurance regulator sued AbbVie on September 18, 2018, alleging the Company provided kickbacks to healthcare providers in exchange for prescribing its drug Humira for arthritis. AbbVie allegedly provided kickbacks in the form of “cash, meals, drinks, gifts, trips, and patient referrals—and more sophisticated ones—free and valuable professional goods and services to physicians to induce and reward Humira prescriptions.” Based on this news, AbbVie shares fell more than 4.5% on September 19, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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