Novo Nordisk A/S : American Depositary Receipts Securities Litigation
On or around 02/19/2020 (Date of last review)
Filing Date: January 11, 2017
According to the law firm press release, the Complaint alleges that during the Class Period, Novo Nordisk reported materially false and misleading earnings and forecasts in that they were inflated through the collusive price fixing of the Company's insulin drugs. The Complaint also alleges that Novo Nordisk misrepresented and concealed the true extent of the pricing pressures it was experiencing from pharmacy benefit managers.
A consolidated and amended Complaint was filed on August 4. Defendants filed a Motion to Dismiss the amended Complaint on October 3. On August 16, 2018, the Court issued an Order denying Defendants' Motion to Dismiss. Plaintiffs filed a Motion for Class Certification on April 1, 2019. On January 31, 2020, the Court issued an Order granting the Class Certification motion.
Company & Securities Information
Defendant: Novo Nordisk A/S
Industry: Major Drugs
Ticker Symbol: NVO
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Lehigh County Employees' Retirement System, et al. v. Novo Nordisk A/S, et al.