Moore Kuehn, PLLC Encourages Investors of AbbVie Inc. or International Business Machines Corporation to Contact Law Firm

NEW YORK, April 13, 2022 /PRNewswire/ -- Moore Kuehn, PLLC, a securities and shareholder law firm located on Wall Street, is investigating potential claims against:

• AbbVie Inc. (NYSE: ABBV)

The company, its officers, or directors 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 alleged wrongful acts and omissions, AbbVie's securities have experienced a significant decline in market value and AbbVie investors have suffered significant damages.

• International Business Machines Corporation (NYSE: IBM)

Please contact only if you acquired shares before April 4, 2017.

After the close of the market on October 16, 2018, IBM revealed a shortfall in revenue and disappointing 3Q2018 growth associated with the Company's Strategic Imperatives and CAMSS lines of business, particularly its Cloud business line. 

On October 20, 2021, after the close of the market, the Company issued a press release announcing its 3Q2021 results. The Company announced total revenues for the quarter of $17.62 billion, a shortfall of $191.84 million based on analyst estimates. The main culprit was the Cloud & Cognitive Software segment, which had revenues of $5.69 billion, a shortfall of approximately $80 million based on analyst estimates of $5.77 billion. Over 42% of the $191 million shortfall was attributable to the Company's Cloud & Cognitive Software segment – where most of the strategic revenue produced by the fraudulent scheme and wrongful reclassification of revenues from non-strategic to strategic historically went.

Shareholders of ABBV or IBM should contact Fletcher Moore, Esq. by email at [email protected] or telephone at (212) 709-8245.

Moore Kuehn is a New York-based law firm with attorneys representing investors, stockholders, unitholders, and consumers. Attorney advertising. Prior results do not guarantee similar outcomes.

Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8^th Floor
New York, New York 10005
[email protected] 
(212) 709-8245

SOURCE Moore Kuehn, PLLC

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