NEW YORK, Nov. 3, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Kenvue Inc. ("Kenvue" or the "Company") (NYSE: KVUE). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Kenvue and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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Kenvue was previously the consumer health division of Johnson & Johnson. On or around May 4, 2023, Kenvue conducted an initial public offering ("IPO"), offering approximately 171,812,560 shares of Kenvue common stock to the investing public at $22.00 per share. The IPO was predicated on the Company and its products, including phenylephrine ("PE") being viable. Soon after the IPO, a U.S. Food and Drug Administration ("FDA") panel unanimously voted to declare oral formulations of PE ineffective for relieving nasal congestion and published its findings in a document called "Efficacy of Oral Phenylephrine as a Nasal Decongestant." The FDA disclosed that it had been evaluating data on the efficacy of oral PE since December of 2007.
On this news, Kenvue's stock price fell $1.10 per share, or 4.58%, to close at $21.06 per share on September 12, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
