NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Cerevel Therapeutics Holdings, Inc. (“Cerevel” or the “Company”) (NASDAQ: CERE) for violations of the federal securities laws on behalf of investors who: (a) sold or otherwise disposed of the publicly-traded common stock of Cerevel during the period from October 11, 2023 through August 1, 2024, inclusive (the “Class Period”) and thus were damaged by Defendants’ violations of Section 10(b) of the Exchange Act (the “Fraud Claim Class”); (b) held shares of Cerevel as of the January 8, 2024 record date (“Record Date”) and were entitled to vote on the merger of Cerevel and AbbVie Inc. (“AbbVie”) and thus were damaged by Defendants’ violations of Section 14(a) of the Exchange Act (the “Proxy Claim Class”); and (c) sold shares of Cerevel stock contemporaneously with Bain Capital’s purchase of shares on or about October 16, 2023 and thus were damaged by Bain’s violations of Section 20A of the Exchange Act (the “Insider Trading Claim Class,” and collectively with the Fraud Claim Class and the Proxy Claim Class, the “Class”).
On April 3, 2025, a complaint was filed against the Company and its previously controlling shareholders (i.e., Bain Capital Investors, LLC (“Bain”) and Pfizer, Inc. (“Pfizer”)), alleging that Cerevel’s October 16, 2023 secondary stock offering (the “October Offering” or “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. The complaint also alleges that 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.
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. The merger allowed Bain to receive a windfall of more than $120 million on the shares it acquired at the artificially depressed Offering price. As a result, Cerevel’s investors were injured.
If you suffered a loss of more than $100,000 in Cerevel’s securities, and wish to participate, or learn more, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before June 3, 2025.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: afarah@lowey.com
SOURCE: Lowey Dannenberg P.C.
