AbbVie Investors’ Suit Over Rinvoq Marketing Risks Dismissed

AbbVie Inc.'s top executives and board members dodged a shareholder derivative suit related to the pharmaceutical company’s marketing of anti-inflammatory drug Rinvoq after a judge dismissed fraud claims in Illinois federal court.

The suit had alleged that AbbVie’s leadership made statements creating the false impression that Rinvoq wouldn’t face the same safety concerns and regulatory issues as a competitor’s drug, prompting a $15 billion market capitalization loss for the pharmaceutical giant.

Investors had also alleged that the misrepresentations brought legal scrutiny from a prior class action upon the company, but that suit iwas voluntarily dismissed in February 2023, Judge Georgia ...