BRIEF—Novo Nordisk settles securities lawsuit in Denmark

Danish diabetes care giant Novo Nordisk today announced that the company has settled a securities lawsuit in Denmark filed in August 2019.

The settlement contains no admission of liability, wrongdoing or responsibility by Novo Nordisk and no payment will be made by Novo Nordisk to the plaintiffs.

The lawsuit was filed by a number of shareholders and alleged that Novo Nordisk had made misleading statements and did not make appropriate disclosures regarding its sales of insulin products in the USA.

The original claim was for a total amount of 11,785,192,218 Danish kroner (~$1.8 billion).

The company’s shares dipped 3.98% to 624.70 kroner following the announcement.