According to the lawsuit, during the Class Period, defendants made false and/or misleading statements in connection with Cerevel’s October 16, 2023 secondary stock offering and in its January 18, 2024 proxy statement. As alleged in the complaint, the secondary stock offering was orchestrated by Cerevel’s controlling shareholders, Bain Capital, LP and Pfizer Inc., to allow Bain to increase its position in Cerevel at a deeply discounted price in advance of AbbVie Inc.’s undisclosed forthcoming acquisition of Cerevel. Just 51 days after the offering, Cerevel publicly announced that AbbVie agreed to acquire Cerevel for $45 per share – i.e., nearly double the offering price – and Bain’s discounted purchases from the offering resulted in it receiving a windfall of more than $120 million. When the true details entered the market, the lawsuit claims that investors suffered damages.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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