NEW YORK, Jan. 11, 2017 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Novo Nordisk A/S (“Novo Nordisk” or the “Company”) (NYSE:NVO) of the March 13, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Novo Nordisk American Depositary Receipts (“ADRs”) between April 30, 2015 and October 27, 2016 (the “Class Period”). The case, LEHIGH COUNTY EMPLOYEES’ RETIREMENT SYSTEM v. NOVO NORDISK A/S et al, No. 2:17-cv-00209 was filed on January 11, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by reporting materially false and misleading earnings and forecasts. The aforementioned reported earnings and forecasts were inflated through the collusive price fixing of the Company’s insulin drugs. Additionally, the lawsuit alleges that the Company misrepresented and concealed the true extent of the pricing pressures it was experiencing from pharmacy benefit managers. Investors began to learn the truth regarding Novo Nordisk’s business through a series of corrective disclosures, which negatively impacted the price of the Company’s ADRs.
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Take Action
If you invested in Novo Nordisk ADRs between April 30, 2015 and October 27, 2016 and would like to discuss your legal rights, visit www.faruqilaw.com/NVO. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Novo Nordisk’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that 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 of whether or not to serve as a lead plaintiff.
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