In re Novo Nordisk Securities Litigation
Novo Nordisk Securities Litigation
3:17-cv-209-ZNQ-LHG

Welcome to the In re Novo Nordisk Securities Litigation Website

PLEASE NOTE: By Order of the Court, the Settlement Hearing scheduled for June 27, 2022 at 11:00 a.m. ET will be held via video conference. Instructions on how to attend the hearing will be posted to this website once they are provided by the Court.

The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Proposed Settlement and Plan of Allocation; (II) Settlement Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

The Notice relates to a proposed settlement of claims in a pending securities class action (the “Action”) brought by Court-appointed lead plaintiffs and class representatives Lehigh County Employees’ Retirement System, Oklahoma Firefighters Pension and Retirement System, Boston Retirement System, Employees’ Pension Plan of the City of Clearwater, and Central States, Southeast and Southwest Areas Pension Fund  (collectively, “Lead Plaintiffs”). The Action alleges, among other things, that defendants Novo Nordisk and Lars Rebien Sørensen, Jesper Brandgaard, and Jakob Riis (collectively, the “Individual Defendants,” and together with Novo Nordisk, “Defendants”) violated the federal securities laws by making false and misleading statements concerning Novo Nordisk’s business and financial results during the Class Period. Defendants deny all of Lead Plaintiffs' allegations and maintain that they have valid defenses to all of Lead Plaintiffs' claims.

Lead Plaintiffs and Defendants have reached a proposed Settlement of the Action for a total of $100,000,000 in cash (the “Settlement”). If you are a Class Member, you are subject to the Settlement. The Class is defined as:

All persons or entities who purchased the American Depositary Receipts of Novo Nordisk A/S between February 3, 2015 and February 2, 2017, inclusive, and who were damaged thereby.

Excluded from the Class are: (i) Novo Nordisk; (ii) any directors and officers of Novo Nordisk during the Class Period and members of their immediate families; (iii) the subsidiaries, parents and affiliates of Novo Nordisk; (iv) any firm, trust, corporation or other entity in which Novo Nordisk has or had a controlling interest; and (v) the legal representatives, heirs, successors and assigns of any such excluded persons or entities. Also excluded from the class are all persons and entities who excluded themselves by submitting a request for exclusion from the class pursuant to the Class Notice. A list of all persons and entities who submitted a request for exclusion from the Class pursuant to the Class Notice can be found on the Important Documents page of this website.

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.

Payments to eligible claimants will be made only if the Court approves the Settlement and a Plan of Allocation, only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN JULY 27, 2022. This is the only way to be eligible to receive a payment from the Settlement Fund.  If you are a Class Member, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (as defined in paragraph 34 of the Notice) that you have against Defendants and the other Defendants’ Releasees (as defined in paragraph 35 of the Notice), so it is in your interest to submit a Claim Form.
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN JUNE 6, 2022.  If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and Litigation Expenses, you may write to the Court and explain why you do not like them.  You cannot object to the Settlement, the Plan of Allocation, or the fee and expense request unless you are a Class Member.
ATTEND  A HEARING ON JUNE 27, 2022 AT 11:00 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN JUNE 6, 2022. Filing a written objection and notice of intention to appear by June 6, 2022 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and Litigation Expenses.  The June 27, 2022 hearing will be conducted by video conference (see paragraphs 53-54 of the Notice).  If you submit a written objection, you may (but you do not have to) participate in the hearing and, at the discretion of the Court, speak to the Court about your objection.
DO NOTHING If you are a member of the Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund.  You will, however, remain a member of the Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.

 

How do I obtain more information?

Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-674-0167 or emailing info@NovoNordiskSecuritiesLitigation.com or mailing a letter to:

Novo Nordisk Securities Litigation
c/o JND Legal Administration
P.O. Box 91154
Seattle, WA 98111

 

Inquiries should NOT be directed to the Court or the Clerk of the Court.

 

For More Information

Visit this website often to get the most up-to-date information.

Mail

Novo Nordisk Securities Litigation
c/o JND Legal Administration
PO Box 91154
Seattle, WA 98111