SAN DIEGO, Jan. 27, 2025 /PRNewswire/ — Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Novo Nordisk A/S (NYSE: NVO) securities between November 2, 2022 and December 19, 2024. Novo is a healthcare company, focused on the research, development, manufacturing, and distribution of pharmaceutical productions globally.
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The Allegations: Robbins LLP is Investigating Allegations that Novo Nordisk A/S (NVO) Misled Investors Regarding REDEFINE-1, Novo’s Phase 3 CagriSema Study on Obesity
According to the complaint, during the class period, defendants misled investors as to the nature of the dosages provided to patients in the study. Further, defendants noted significant confidence in Novo’s expectations for the study, in particular a minimum expected 25% average weight loss for obesity patients treated with CagriSema. The complaint alleges that on December 20, 2024, Novo announced headline results for its REDEFINE-1 trial, which determined CagriSema had achieved a weight loss average of only 22.7% after 68 weeks. On this news, the price of Novo fell from $103.44 per share on December 19, 2024, to $85.00 per share on December 20, 2024, a decline of about 17.83% in the span of just a single day.
What Now: You may be eligible to participate in the class action against Novo Nordisk A/S. Shareholders who want to serve as lead plaintiff for the class must file papers with the court by March 25, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP