NEW YORK, April 10, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Cerevel Therapeutics Holdings, Inc. (“Cerevel” or the “Company”) (CERE) in the United States District Court for the District of Delaware on behalf of all persons and entities who purchased or otherwise acquired Cerevel securities from October 11, 2023 through August 1, 2024, both dates inclusive (the “Class Period”). Investors have until June 3, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The Complaint alleges that Cerevel's Offering documents and other public statements omitted material facts regarding AbbVie's interest in acquiring Cerevel at a price well in excess of the $22.81 per share Offering price, artificially deflating Cerevel's stock price until the merger was announced. Moreover, Specifically, the Complaint alleges that: (1) Cerevel's controlling shareholder, Bain, acquired Cerevel shares from the October Offering at an artificially depressed price while allegedly in possession of material nonpublic information regarding AbbVie's interest; (2) On December 6, 2023 (less than two months after the October Offering), Cerevel publicly announced that AbbVie agreed to acquire Cerevel for $45 per share and that the merger allowed Bain to receive a windfall of more than $120 million on the shares it acquired at the artificially depressed Offering price.
The Action also seeks to recover damages on behalf of investors that held shares as of the January 8, 2024 Record Date and were damaged as a result of Defendants' allegedly false and misleading statements and omissions of material facts in Cerevel's January 18, 2024 Proxy statement (the "Proxy"). Among other things, the Complaint alleges the Proxy misled investors regarding the true nature and timing of AbbVie's interest in Cerevel.
If you purchased or otherwise acquired Cerevel shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
