NEW YORK, Aug. 12, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Cerevel Therapeutics Holdings, Inc. (“Cerevel” or the “Company”) ( CERE). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Cerevel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 2, 2023, Cerevel issued a press release reporting its second quarter 2023 financial results and business updates. Among other items, Cerevel announced its decision to delay key data readouts until “mid-year 2024.” On this news, Cerevel’s stock price fell $4.32 per share, or 14.09%, to close at $26.33 per share on August 2, 2023. Then, on August 3, 2023, Bank of America downgraded Cerevel, citing the delayed data readouts. On this news, Cerevel’s stock price fell sharply during intraday trading on August 3, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
