An investigation on behalf of investors of Novartis AG (NYSE: NVS) shares over potential securities laws violations by Novartis AG and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Novartis AG (NYSE: NVS) concerning whether a series of statements by Novartis AG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Switzerland based Novartis AG researches, develops, manufactures, and markets healthcare products worldwide. On August 6, 2019, the United States Food and Drug Administration (FDA) issued a statement revealing data manipulation in connection with the May 2019 approval of Novartis gene therapy drug, Zolgensma. According the the statement, Novartis AG became aware of the issue of the data manipulation that created inaccuracies in their [biologics license application] before the FDA approved the product, yet did not inform the FDA until after the product was approved. Shares of Novartis AG (NYSE: NVS) declined to as low as $86.74 per share on August 6, 2019.