The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Novo Nordisk A/S who purchased securities between November 2, 2022 and December 19, 2024.
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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until March 25, 2025 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
