Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Novo Nordisk To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $100,000 in Novo Nordisk between November 2, 2022 and December 19, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Novo Nordisk A/S (“Novo Nordisk” or the “Company”) (NYSE: NVO) and reminds investors of the March 25, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that 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.”
On December 20, 2024, during pre-market hours, Novo announced headline results for its REDEFINE-1 trial, which determined CagriSema had achieved a weight loss average of only 22.7% after 68 weeks. The Company attributed this diminished result, in part, on the previously undisclosed “flexible” nature of the protocol. This flexibility resulted in less than 60% of patients apparently completing the dose escalation period and thus being treated with “2.4 mg cagrilintide and 2.4 mg semaglutide once-weekly,” the maximum dosage of CagriSema contemplated by the trial, during the 52-week maintenance period in the manner outlined by the published protocol for the REDEFINE-1 study.
Investors and analysts reacted immediately to Novo’s revelation. The price of Novo’s common stock declined dramatically. From a closing market price of $103.44 per share on December 19, 2024, Novo’s stock price fell to $85.00 per share on December 20, 2024, a decline of about 17.83% in the span of just a single day.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Novo Nordisk’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Novo Nordisk class action, go to www.faruqilaw.com/NVO or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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