AbbVie Rinvoq securities class action lawsuit overview:

• Who: Levi & Korsinsky, LLP filed a class action securities lawsuit against the biotech company.
• Why: The lawsuit alleges AbbVie made false statements to investors about its rheumatoid arthritis drug Rinvoq, namely how safety concerns surrounding Pfizer’s drug Xeljanz extends to both Rinvoq and AbbVie’s other Janus kinase enzyme inhibitor drugs.
• Where: The class action lawsuit seeks to represent AbbVie investors nationwide.

AbbVie investors are part of a class action lawsuit filed against the biotech company over claims it made false statements about its rheumatoid arthritis drug Rinvoq.

The AbbVie class action alleges the company conceals from investors how safety concerns about Pfizer’s drug Xeljanz related to Rinvoq and its other Janus kinase enzyme inhibitor drugs, according to a news release by Levi & Korsinsky, LLP.

The connection between Xeljanz concerns and AbbVie’s drugs means the U.S. Food and Drug Administration will likely require more safety warnings and that additional treatment indications for Rinvoq will be delayed, according to the AbbVie class action.

“Therefore, defendants’ statements about the Company’s business, operations and prospects lacked a reasonable basis,” Levi & Korsinsky, LLP says.

The class action lawsuit attempts to reimburse AbbVie investors who were “adversely affected by alleged securities fraud” occurring between April 30, 2021, and Aug. 31, 2021.

Investors who...

Read Full Story: https://topclassactions.com/lawsuit-settlements/securities/abbvie-class-actio...