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Novo Nordisk A/S (ADR) (NYSE:NVO) Investor Securities Class Action Lawsuit 01/11/2017

  • If you purchased shares of Novo Nordisk A/S (ADR) (NYSE:NVO), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Novo Nordisk A/S
Security
NYSE: NVO

Case Name
Novo Nordisk Shareholder Class Action Lawsuit 01/11/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

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Summary

August 16, 2018 - The court denied the defendants' motion to dismiss.

October 3, 2017 - A motion to dismiss the amended complaint was filed.

August 4, 2017 - A consolidated and amended complaint was filed .

January 11, 2017 (Shareholders Foundation) - An investor in shares of Novo Nordisk A/S (ADR) (NYSE:NVO) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Novo Nordisk A/S in connection with certain allegedly false and misleading statements made between April 30, 2015 to October 27, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Novo Nordisk A/S (ADR) (NYSE:NVO) common shares between April 30, 2015 to October 27, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 30, 2015 to October 27, 2016 Novo Nordisk A/S reported allegedly materially false and misleading earnings and forecasts in that they were inflated through the collusive price fixing of the Company's insulin drugs.
The Complaint also alleges that Novo Nordisk A/S misrepresented and concealed the true extent of the pricing pressures it was experiencing from pharmacy benefit managers.

Novo Nordisk A/S reported that its annual Total Revenue rose from $12.71 million in 2014 to $15.45 million in 2015 and that its Net Income increased from over $3.84 million in 2014 to $4.99 million in 2015

Shares of Novo Nordisk A/S (ADR) (NYSE:NVO) rose to as high as $57.44 per share in June 2016. On November 23, 2017 shares of Novo Nordisk A/S (ADR) (NYSE:NVO) declined to as low as $30.89 per share.

On January 11, 2017, NYSE:NVO shares closed at $35.62 per share.