April 10, 2024 02:45 PM Eastern Daylight Time

The Law Offices of Frank R. Cruz Announces Investigation of AbbVie Inc. (ABBV) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of AbbVie Inc. (“AbbVie” or the “Company”) (NYSE: ABBV) on behalf of investors concerning the Company’s possible violations of federal securities laws.

“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.”

If you are a shareholder who suffered a loss, click here to participate.

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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.