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Novo Nordisk Settles Securities Lawsuit in Denmark -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Novo Nordisk A/S (NYSE:) said Friday that it has settled a securities lawsuit in Denmark.

Midday trading saw Novo shares fall by 3%

According to Novo Nordisk, the agreement does not admit liability or wrongdoing and no payment is being made.

In the 2019 lawsuit, the company was accused of making misleading statements about its diabetes business in America and not giving the appropriate disclosures.

Multiple shareholders filed the lawsuit seeking damages in excess of $1.75 trillion or 11.785 billion Danish Crowns.

Novo at that time stated it was “disagreeing with these allegations and is ready to defend this company.”

 

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