SAN FRANCISCO, CA / ACCESS Newswire / February 6, 2025 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Novo Nordisk A/S. ("Novo" or the "Company") (NYSE:NVO) who purchased or otherwise acquired Novo securities between November 2, 2022, and December 19, 2024, inclusive (the "Class Period") to contact us immediately regarding a pending securities class action against Novo. The deadline to apply to be lead plaintiff is March 25, 2025.
Class Period: November 2, 2022 - December 19, 2024
Lead Plaintiff Motion Deadline: March 25, 2025
Case information: https://lieffcabraser.com/securities/novo-nordisk/
Contact us: Email or textinvestorinfo@lchb.com or call 1-800-541-7358
Novo, a Danish company with its U.S. headquarters in Plainsboro, New Jersey, is a healthcare company focused on the research, development, manufacturing, and distribution of pharmaceutical productions to address diabetes, obesity and rare diseases.
The action alleges that, during the Class Period, Novo and certain of its senior executives made materially false and misleading statements and failed to disclose: (1) that Defendants created the false impression that they possessed reliable information pertaining to Novo's projected successful outcome of the REDEFINE-1 study of its new experimental weight loss drug, CagriSema, while avoiding discussions centered around dosage tolerability as it related to the CagriSema; (2) that Novo's claims that CagriSema would achieve at least 25% weight loss in the REDEFINE-1 study was not based on facts; and (3) that the REDFINE-1 study utilized a "flexible protocol" that limited the study's ability to effectively provide weight loss data on the dosage tested, suggesting either that tolerability was significantly worse than expected, resulting in patients titrating down their dosages to avoid complications, or that the patient selection process was rushed and led to the onboarding of patients who did not seek to achieve the study's 25% weight loss target.
On December 20, 2024, before the market opened, Novo announced disappointing results for the REDEFINE-1 trial, noting that CagriSema had achieved only a weight loss average of 22.7% after 68 weeks. In addition, Novo revealed, for the first time, that the study used a "flexible protocol, allowing patients to modify their dosing throughout the trial" and which resulted in only 57.3% of patients reaching the full dose of CagriSema. On this news, the price of Novo's American Depositary Receipts ("ADRs") fell 17.83% from its closing price on December 19, 2024, to close at $85.00 per share on December 20, 2024.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
SOURCE: Lieff Cabraser Heimann & Bernstein, LLP
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