NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) — Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Novo Nordisk A/S (“Novo” or the “Company”) (NYSE: NVO) for violations of the federal securities laws on behalf of investors who purchased or acquired Novo common stock between November 2, 2022 to December 19, 2024, inclusive (the “Class Period”).
On January 24, 2025, a complaint was filed against the Company and certain of its officers, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to Novo’s projected successful outcome of Novo’s phase 3 CagriSema study on obesity, named “REDEFINE-1,” while avoiding discussions centered around dosage tolerability; (ii) Novo’s repeated optimistic claims that CagriSema would achieve at least 25% weight loss in the REDEFINE-1 study fell short of reality; and (iii) the utilization of the “flexible protocol” limited the study’s ability to effectively provide weight loss data on the dosage tested, suggesting either that tolerability was significantly worse than anticipated, resulting in patients titrating down their dosages to avoid complications, or that the patient selection process was rushed, leading to the onboarding of patients that did not desire to even achieve the 25% weight loss Novo sought to demonstrate.
When investors learned the truth, Novo’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $200,000 in Novo’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah ([email protected]) or Vincent R. Cappucci Jr. ([email protected]).
Any investor who wishes to serve as Lead Plaintiff must act before March 25, 2025.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
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White Plains, NY 10601
Tel: (914) 733-7234
Email: [email protected]
SOURCE: Lowey Dannenberg P.C.
