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Fri. 13 May 2022, 11:32am ET Benzinga News, Legal, Press Releases

NEW YORK, May 13, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. 

International Business Machines Corporation (NYSE:IBM)

Class Period: April 4, 2017 - October 20, 2021

Deadline: June 6, 2022

For more info: www.bgandg.com/ibm.

The Complaint alleges that the Defendants made materially false and misleading statements and/or omitted to disclose that: (1) Strategic Imperatives Revenue and growth, CAMS and CAMS Components' revenue and growth, and the Company's Segments' revenue and growth were artificially inflated as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; (2) the Company's present success and positive future growth prospects concerning its Strategic Imperative business strategy were being fueled by the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperative Revenue and, as a result (3) misled the market by portraying the Company's Strategic Imperative's financial performance and future prospects more favorable than they actually were as a result of the fraudulent scheme and/or the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives.

AbbVie, Inc. (NYSE:ABBV)

Class Period: April 30, 2021 - August 31, 2021

Deadline: June 6, 2022

For more info: www.bgandg.com/abbv

The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, about the company's business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, Defendants' statements about the company's business, operations, and prospects lacked a reasonable basis, As a result of the Defendants' wrongful acts and omissions, and the significant decline in the market value of AbbVie's securities, AbbVie investors have suffered significant damages.

Twitter, Inc. (NYSE:TWTR)

Class Period: March 24, 2022 - April 1, 2022

Deadline: June 13, 2022

For more info: www.bgandg.com/twtr.

On April 4, 2022, Elon Musk announced that he had purchased over 73 million shares of Twitter stock – a 9.2% stake in the Twitter. Following this news, Twitter stock surged on April 4, 2022, closing 27% higher than its closing price the previous day. The complaint alleges that by failing to timely disclose his ownership stake, Musk was able to acquire shares of Twitter less expensively during the Class Period.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com