AbbVie Gets Shareholder Class Suit Over Allergan Merger Tossed

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 ...