Case Summary

Novo

NYSE: NVO

Case Details

  • Moon v. Novo Nordisk A/S et al.
  • Class Period:November 2, 2022, to December 19, 2024
  • Date Filed:January 24, 2025
  • Jurisdiction:U.S. District Court, District of New Jersey
  • Docket Number: 2:25-cv-00713
  • Lead Plaintiff Deadline: March 25, 2025
Days Left to
Seek Plaintiff
45

Overview

A class action lawsuit has been filed against Novo Nordisk A/S (“Novo” or the “Company”) (NYSE: NVO) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Novo class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Novo securities from November 2, 2022, to December 19, 2024, both dates inclusive (the “Class Period”).  Investors have until March 25, 2025, to seek appointment as lead plaintiff in the Novo class action lawsuit.

Novo is a healthcare company, focused on the research, development, manufacturing, and distribution of pharmaceutical productions globally.  The Company operates in two segments, diabetes and obesity on one arm, and rare diseases on the other.  Novo is internationally headquartered outside of Copenhagen, Denmark, while its United States headquarters are located in Plainsboro, New Jersey.

The Novo class action lawsuit alleges that Defendants provided investors with material information concerning the details of, and expectations for, Novo’s Phase 3 CagriSema study on obesity, named “REDEFINE-1.”  Defendants’ statements failed to disclose or otherwise misled investors as to the nature of the dosages provided to patients in the study.  Defendants’ statements further included, among other things, significant confidence in Novo’s expectations for the study, in particular a minimum expected 25% average weight loss for obesity patients treated with CagriSema in the REDEFINE-1 study.

Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Novo’s REDEFINE-1 trial protocol; notably, that it was a “flexible protocol” which gave patients the ability “to modify their dosing throughout the trial.”  Such statements absent these material facts misled Plaintiff and other shareholders about the study’s risks and prospects for success and, in turn, caused them to purchase Novo’s securities at artificially inflated prices.

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If you purchased or otherwise acquired Novo securities from November 2, 2022, to December 19, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]

The deadline to apply to the Court to serve as lead plaintiff in the Novo class action lawsuit is March 25, 2025.

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