THE LAWSUIT: A class action securities lawsuit was filed against Novo Nordisk A/S (NVO) that seeks to recover losses of Novo shareholders who were adversely affected by alleged securities fraud between November 2, 2022 and December 19, 2024
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CASE DETAILS: 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.
WHAT’S NEXT? If you suffered a loss in Novo stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/novo-nordisk-a-s-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The 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. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
