Healthy Skepticism Library item: 11968
Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.
Publication type: media release
Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Novartis AG
Stull, Stull & Brody 2007 Nov 1
http://www.allbusiness.com/legal/legal-services-litigation/5301359-1.html
Full text:
Press Release Source: Stull, Stull & Brody
Stull, Stull & Brody Announces Class Action on Behalf of Shareholders of Novartis AG
Thursday November 1, 4:45 pm ET
NEW YORK, NY—(MARKET WIRE)—Nov 1, 2007 — Attorney Advertising. Notice is hereby given that a class action has been commenced in the United States District Court for the District of New Jersey on behalf of an investor and other similarly situated purchasers of Novartis AG (“Novartis” or the “Company”) (NYSE:NVS – News) securities between June 14, 2006 and July 17, 2007 (the “Class Period”).
Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer’s stock in their 401(k) plans. If you bought Novartis stock through your Novartis retirement account and have information or would like to learn more about these claims, please contact us.
The complaint charges Novartis and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Novartis engages in the research, development, manufacture, and sale of health care products.
The complaint alleges that throughout the Class Period, Novartis failed to disclose adverse information regarding the Company’s research into a potential new cancer drug. Tasigna, which caused the Company’s shares to trade at artificially inflated prices during the Class Period. On July 17, 2007, the Company issued a press release announcing that the FDA had requested a three-month extension in the regulatory review period for Tasigna. Following the FDA disclosure of the safety data for Tasigna, which defendants had known for several months, Novartis share price declined from $55.45 to $53.36 in two days.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Novartis securities during the Class Period, which is between June 14, 2006 through July 17, 2007. If you purchased or otherwise acquired Novartis securities during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Novartis securities during the Class Period, you may request that the Court appoint you as lead plaintiff no later than sixty days from October 29, 2007.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in New York and Los Angeles.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
Contact: Contact: Tzivia Brody, Esq. Stull, Stull & Brody Email Contact toll-free 1-800-337-4983 fax at 212/490-2022
