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Novo Nordisk shareholders claim 11.79B kroner in lawsuit against company

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Novo Nordisk shareholders claim 11.79B kroner in lawsuit against company

Novo Nordisk A/S said a number of its shareholders have filed a lawsuit against the company in Denmark alleging it issued misleading statements about the sales of its insulin products in the U.S.

The shareholders, based on their trading and holding of shares between Feb. 3, 2015, and Feb. 2, 2017, have made a claim of 11.79 billion Danish kroner in the lawsuit. They also blame Novo for not disclosing appropriate information regarding the sales.

The Danish pharmaceutical giant dismissed the allegation and said it will defend the company in this matter.

A similar lawsuit was filed on behalf of all purchasers of Novo's American depositary receipts in the U.S. in 2017.

As of Aug. 15, US$1 was equivalent to 6.72 Danish kroner.