Cerevel Therapeutics Holdings, Inc. Class Action Lawsuit - CERE
Case Summary
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The Cerevel class action lawsuit seeks to represent persons or entities that: (1) sold or otherwise disposed of the publicly-traded common stock of Cerevel Therapeutics Holdings, Inc. (NASDAQ: CERE) during the period from October 11, 2023 through August 1, 2024, inclusive (the “Class Period”); (2) held shares of Cerevel as of the January 8, 2024 record date and were entitled to vote on the merger of Cerevel and AbbVie Inc.; and (3) sold shares of Cerevel stock contemporaneously with Bain Capital Investors, LLC’s purchase of shares on or about October 16, 2023. Captioned SM Merger/Arbitrage, LP v. Cerevel Therapeutics Holdings, Inc., No. 25-cv-00417 (D. Del.), the Cerevel class action lawsuit charges Cerevel, Bain, and Pfizer, Inc. with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Cerevel class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Cerevel class action lawsuit must be filed with the court no later than June 3, 2025.
CASE ALLEGATIONS: Cerevel was a Massachusetts-based biopharmaceutical company co-founded in 2018 by contributions of neuroscience assets from Pfizer Inc. and monetary investment from Bain.
The Cerevel class action lawsuit seeks to recover damages on behalf of shareholders damaged by alleged omissions and wrongdoing in connection with Cerevel’s October 16, 2023 secondary stock offering and related false and misleading statements in Cerevel’s January 18, 2024 Proxy Statement for AbbVie’s acquisition of Cerevel for $45 per share. According to the Cerevel class action lawsuit, the October 2023 offering was orchestrated by Cerevel’s controlling shareholders, Bain and Pfizer, in order for Bain to increase its investment at a deeply discounted price in advance of AbbVie’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, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who: (1) sold or otherwise disposed of the publicly-traded common stock of Cerevel during the Class Period; (2) held shares of Cerevel as of the January 8, 2024 record date and were entitled to vote on the merger of Cerevel and AbbVie; and (3) sold shares of Cerevel stock contemporaneously with Bain’s purchase of shares on or about October 16, 2023, to seek appointment as lead plaintiff in the Cerevel class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Cerevel class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Cerevel class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Cerevel class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.