SAN DIEGO, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Novo Nordisk A/S (NYSE: NVO) securities between November 2, 2022 and December 19, 2024, inclusive (the “Class Period”), have until March 25, 2025 to seek appointment as lead plaintiff of the Novo Nordisk class action lawsuit. Captioned Moon v. Novo Nordisk A/S, No. 25-cv-00713 (D.N.J.), the Novo Nordisk class action lawsuit charges Novo Nordisk and certain of Novo Nordisk’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Novo Nordisk class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-novo-nordisk-a-s-class-action-lawsuit-nvo.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Novo Nordisk, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products.
The Novo Nordisk class action lawsuit alleges that defendants throughout the Class Period 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 Nordisk’s projected successful outcome of Novo Nordisk’s phase 3 CagriSema study on obesity, named “REDEFINE-1,” while avoiding discussions centered around dosage tolerability; (ii) Novo Nordisk’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 Nordisk sought to demonstrate.
The Novo Nordisk class action lawsuit further alleges that on December 20, 2024, defendants published headline results from their REDEFINE-1 CagriSema obesity trial, disclosing that “[t]he REDEFINE 1 trial was based on a flexible protocol, allowing patients to modify their dosing throughout the trial” and that “[a]fter 68 weeks, 57.3% of patients treated with CagriSema were on the highest dose compared to 82.5% with cagrilintide 2.4 mg and 70.2% with semaglutide 2.4 mg.” On this news, the price of Novo Nordisk stock fell nearly 18%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Novo Nordisk securities during the Class Period to seek appointment as lead plaintiff in the Novo Nordisk class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Novo Nordisk class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Novo Nordisk class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Novo Nordisk class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
