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AbbVie Gets Shareholder Class Suit Over Allergan Merger Tossed

Sept. 21, 2022, 10:19 PM

A US investor who owned Allergan Plc stock before the company’s merger with AbbVie Inc. lost a proposed class challenge to the deal because US shareholders had a right to appear at a May 2020 fairness hearing in Ireland, an Illinois state trial court ruled.

Even though Covid-19 pandemic restrictions blocked investors’ in-person appearance at the Irish High Court hearing, they had the right to appear through legal representatives, Judge Anna H. Demacopoulos said Tuesday for the Cook County Circuit Court.

  • Other aspects of the hearing met fairness requirements, she said.
  • The right to appear and other fairness considerations satisfied ...