Novo Nordisk Settles Securities Lawsuit in Denmark

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Novo Nordisk Settles Securities Lawsuit in Denmark

By Sam Boughedda

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

Shares of Novo fell 3% in midday trading.

The company said the settlement contained no admission of liability, wrongdoing or responsibility and Novo Nordisk is not making any payment.

The 2019 lawsuit alleged the company made misleading statements and did not make appropriate disclosures regarding its insulin business in the United States.

The lawsuit was filed by several shareholders claiming compensation worth 11.785 billion Danish crowns or approximately $1.75 billion.

At the time, Novo said it "disagrees with the allegations and is prepared to defend the company in this matter."

 

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