1. A class action lawsuit alleges securities fraud against Novo Nordisk. 2. Claims arise from underwhelming results of 'REDEFINE 1' trial. 3. Stock price dropped by $18.44 to $85.00 after trial results announcement. 4. Only 57.3% of patients used the highest dosage in the trial. 5. Investors can join the lawsuit with no upfront costs.
The lawsuit and trial results significantly undermine investor confidence, similar effects were seen previously in similar cases like Valeant Pharmaceuticals following negative clinical results.
The legal action and trial's implications can materially affect NVO's market valuation and future trials.
Immediate negative market reactions often occur post-announcement of lawsuits and disappointing trial data, as seen with other pharmaceutical companies.
Levi & Korsinsky, LLP notifies investors in Novo Nordisk A/S ("Novo" or the "Company") (NYSE: NVO) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Novo investors who were adversely affected by alleged securities fraud between November 2, 2022 and December 19, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/novo-nordisk-a-s-lawsuit-submission-form?prid=129520&wire=4
NVO investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the complaint, on December 20, 2024, Novo issued a press release announcing the below-expected results of their "REDEFINE 1" trial, "a 68-week efficacy and safety trial investigating subcutaneous CagriSema." The trial showed that patients treated with CagriSema exhibited weight loss of 22.7% after 68 weeks, well short of Novo's targeted expectation of at least 25% weight loss. The press release further indicated that participant patients were permitted to modify their own dosage during the trial and, as a result, only 57.3% of patients treated with CagriSema were on the highest dosage contemplated by the study. Following this news, Novo's stock price fell by $18.44 per share to close at $85.00 per share.
If you suffered a loss in Novo during the relevant time frame, you have until March 25, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP