NEW ORLEANS, Feb. 3, 2017 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., reminds investors that they have until March 13, 2017 to file lead plaintiff applications in a securities class action lawsuit against Novo Nordisk A/S (NYSE: NVO), if they purchased the Company's American Depository Receipts ("ADRs") between the expanded period of February 5, 2015 and October 27, 2016, inclusive (the "Class Period"). The action is pending in United States District Court for the District of New Jersey.
What You May Do
If you purchased ADRs of Novo Nordisk and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 13, 2017.
About the Lawsuit
Novo Nordisk and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 5, 2016, the Company announced disappointing earnings for the 2016 second quarter. Then, on October 28, 2016, the Company disclosed that it was cutting its long-term profit growth by 50% and that it had received a Civil Investigative Demand from the U.S. Attorney's Office for the Southern District of New York seeking information relating to contracts and business relationships concerning its insulin products.
On this news, the price of Novo Nordisk's ADRs plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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SOURCE Kahn Swick & Foti, LLC